meta market news today

The year 2022 was extremely difficult in many ways. Rising inflation and interest rates, Russia's invasion of Ukraine and other numerous crises. The effects of all this are already visible. For Credit Suisse, it is evident in the losses and the lack of bonuses.

In this article:

  • The direction for Volkswagen is electrification and digitalization
  • Meta is ending with NFT?
  • Without Bonuses
  • High inflation and tech sector

The direction for Volkswagen is electrification and digitalization

The German auto giant earlier this month reported an operating profit for the full year 2022 of €22.5 billion, an increase of 13% over the previous year, with deliveries of batteries and electric vehicles (BEVs) up 26%. BEV's expansion was driven by 68 percent growth in China, while the company also completed the groundbreaking electrification of its plant in Chattanooga, Tennessee.

Volkswagen announced plans to invest €180 billion ($192.6 billion) between 2023 and 2027, more than two-thirds

Meta Is Cutting Discretionary Spendings And Extending Its Freeze On Hiring

Millions Invested In AR And VR Headsets At Metaverse

Binance Academy Binance Academy 24.10.2022 13:21
TL;DR The Internet is on the verge of a new era, with both crypto projects and public companies exploring the possibilities of the metaverse. Some companies have confidently entered the metaverse early, while others have been on the fence despite their technology being an obvious fit. Such companies usually work with immersive hardware, 3D, interactive platforms, connectivity, blockchain, semiconductors, and security, which are essential for making the metaverse a reality. Introduction The metaverse has the potential to be one of the technological trends to disrupt current market structures. The new technologies required to build the metaverse will also present opportunities for anyone to be part of this next step of the Internet, be they new projects, public companies, or even individual investors. Learn more on Binance.com The metaverse has gained massive popularity in a short time. Facebook's rebranding to Meta was may have established the metaverse as something more than a passing trend. Apart from crypto projects, numerous big companies have begun to recognize the metaverse as the next stage of Internet evolution. The Internet has undergone a series of major changes throughout its history — namely, Web1, Web2, and Web3. The first version of the Internet consisted mainly of static sites that could display only information. Today, in the Web2 era, users have social media platforms and dynamic websites that allow them to alter their data and upload their own content. We are currently anticipating the emergence of Web3, which could see the metaverse come to fruition. Web3 will consist of more open, connected, intelligent websites and web applications that will allow users to have greater ownership and control of their data and content. As such, Web3 could also weaken the power held by large, centralized Web2 enterprises today. Like the metaverse, Web3 doesn't actually exist yet. However, some of its essential technologies do. For instance, blockchain and cryptocurrency could bring decentralization and digital economies to Web3. In addition, virtual reality (VR) and augmented reality (AR) could enhance online social interactions on Web3 platforms. At the same time, artificial intelligence (AI) could improve language processing (such as for customer service bots) on Web3 due to its ability to link human-created content to machine-readable data. With the metaverse, everyone has a chance to be part of the next phase of the Internet. For example, new projects could build metaverse components and solve the Internet’s current problems. Additionally, companies that are less financially restricted could build vital technologies and explore how their current products and services could contribute to the metaverse. Even individual investors can participate in Web3 by buying stock in metaverse-related companies. Publicly listed companies have been exploring the metaverse to see how it may suit their needs. For instance, Microsoft is focusing on virtual offices and working environments in the metaverse, while Google is developing an AR solution that connects the digital and real worlds. Similarly, Fortnite producer Epic Games plans to connect AR, VR, and 3D content to its platforms. These developments give users a vision of what the companies behind them are trying to achieve. While there’s no way of knowing which companies will succeed in the metaverse, users can already buy their stocks — one way users can involve themselves in the metaverse ecosystem to aid its progress. Businesses risk losing their competitive advantage if they don't keep up with fundamental changes in the economy, such as technological development. These changes usually give rise to new dominant companies and can cause one-time market leaders to lose their positions or even vanish from the market. Growing interest in the metaverse may be the result of companies perceiving it as the next so-called secular trend. Secular trends are major changes in the industry that continue to develop over a long period of time, with prime examples including  personal computers, mobile devices, and e-commerce. Companies might therefore see involvement in the metaverse as necessary to support their future trajectory. There are various ways in which public companies can enter or support the metaverse. This article will dive into immersive hardware, 3D creation software, interactive platforms, connectivity, blockchain, semiconductors, and security. Immersive hardware The popular consumer products of today are limited to sight and sound. Even our view of future metaverse hardware usually incorporates only VR headsets. However, immersive hardware could bring the dimension of touch to the metaverse. For instance, potential haptic devices could allow people to have a physical connection with the virtual world.  3D creation software Creating digital environments that mimic the real world as closely as possible can be difficult and time-consuming. With 3D cameras, however, 3D creation software may be able to solve these problems. Developers would first capture natural environments on film, then feed the 3D spatial data to the relevant software. This software would then process and generate a virtual double that could be used in the metaverse as a base on which users can build. Interactive platforms Online shopping is huge in the Web2 era — with interactive tools, users can add things to their shopping carts and move between pages via links by clicking the correct spots on their screens. Similarly, native interactive tools and venues are needed to enable users to interact with the metaverse. Interactive platforms would make this a reality and drive activity in the metaverse.  Connectivity Fast connectivity has been indispensable since the advent of the Internet. The metaverse will likewise need lightning-fast connection to enable users to work, socialize, and play in real time. Computers must also be powerful enough to render 3D to ensure smooth connectivity. Blockchain Blockchain technology could become a foundational layer of the metaverse. It allows for a decentralized and transparent way to achieve digital proof of ownership, digital collectibility, and governance. It also promotes accessibility and interoperability.  In addition, cryptocurrency is built on the blockchain and enables users to transfer value while they work and socialize in the metaverse. Other blockchain applications for the metaverse include non-fungible tokens (NFTs) and decentralized finance (DeFi).  Semiconductors As mentioned above, the metaverse will have higher computing power requirements, thereby necessitating advancements in semiconductor technology. Furthermore, improved semiconductors are essential for the metaverse as it will generate a large amount of data to be stored. Security The metaverse will collect a vast amount of data from its users, many of whom would prefer to remain anonymous and not leave any trace of their identities, finances, or other sensitive data in the wrong hands. This is why the metaverse will require cybersecurity solutions. Unity Software Unity Software is the industry leader in 3D software, with half of all 3D content produced today using its software technology. It stands to reason, therefore, that Unity Software could be involved in creating metaverse content. Shopify, Inc. Shopify is one of the world’s largest e-commerce platforms. Its current software products are aimed at online retailers, assisting them with payments, analytics, and order completion. This gives it the potential to shape commerce relations in the metaverse. Shopify already has an NFT platform in beta that allows NFT sales using its storefront. It also has a token-gated commerce platform its clients can use to connect with fans and drive sales. Meta Platforms Inc. Since its rebranding from Facebook, Meta has invested billions of dollars in developing metaverse content, software, and AR and VR headsets. Match Group Inc. Match Group is the parent company of popular dating apps like Tinder and Hinge. It acquired leading South Korean social discovery and video technology company Hyperconnect in 2021 to create new digital channels through which people could meet and engage with new connections, regardless of borders and language barriers. CrowdStrike Holdings CrowdStrike Holdings is a cybersecurity technology company that offers cloud-delivered protection to stop breaches and as such, could meet the metaverse’s cybersecurity needs.   Closing thoughts The metaverse is a hot topic in the technology industry that has already attracted investments from many companies despite not actually existing yet. Web3’s potential to shift power from centralized Web2 giants to the people may well lead new projects, public companies, and even individual investors to invest in its critical infrastructure.
The Current War Between China And The United States Over Semiconductor Chips Is Gaining Momentum

Google and Microsoft Fell, Expectations For Meta Are Low | The Bank Of Canada Will Deliver A Jumbo Rate Hike

Swissquote Bank Swissquote Bank 26.10.2022 11:11
US indices rallied yesterday on the back of soft economic data from the US, but the sentiment reversed after the Q3 results from Google and Microsoft didn't please. Both stocks fell in the afterhours trading. Rest of the earnings were mixed. Meta is the next US giant to announce earnings, and expectations are rather… low. US Yields The US 2-year yield has been easing after hitting a fresh 15-year high last week, as the US 10-year yield fell to 4.05%. The dollar index tanked around 1%, both the EURUSD and Cable advanced past their 50-DMA, which were acting as strong resistance since the start of the year, especially since the start of the war in Ukraine. Bank of Canada The USDCAD fell to a 3-week low, as the Bank of Canada (BoC) prepares to deliver another jumbo rate hike today. The BoC could deliver a 75bp hike, which would further fuel the odds of recession in Canada by next year. FX Market It’s important to note that the common denominator of the latest FX moves is the softer US dollar. And the downside moves in dollar and the US yields depend on Fed expectations – whatever the other central banks do seem accessory to the main dollar story. Fed The Fed expectations have been shaped by softish data, and some softish comments from the Fed officials recently. But there is nothing official pointing at a potential softening tone from the Fed just yet. Hence, the recent fall in the US dollar, and rebound in equities may not last. Gains remain vulnerable. And very much so, as the latest results from the US tech giants failed to make the investors smile yesterday. Watch the full episode to find out more! 0:00 Intro 0:35 Soft US data fueled optimism… 3:15 … but Big Tech earnings hurt. GOOG & MSFT fell 6.5% post-market 5:01 Other companies announced mixed results 6:30…as UPS surprised 7:00 Some come back to stocks, but stock/ bond correlation remains high 7:52 Meta earnings preview: expect nothing crazy… Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Meta #Google #Microsoft #UPS #Spotify #GM #Visa #UBS #CocaCola #earnings #USD #EUR #GBP #CAD #BoC #rate #decision #US #home #prices #Fed #expectations #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH  
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Horse Racing At The NFT-DeRace | OpenSea Sales Were Positive, GameFi Saw An Increase

Crypto.com Accelerate the... Crypto.com Accelerate the... 28.10.2022 09:28
Key Takeaways Crypto.com signed an MOU with gaming software development studio ACT Games. The Cronos blockchain will soon be powering ACT Games’s NFT trading card game “Zoids Wild NFT Arena”. Crypto.com will issue an NFT collection based on A Story produced Korean drama “Extraordinary Attorney Woo”. Four whale artworks produced by top Korean illustrator Chul-min Lee were also showcased at Blockchain Week in Busan. Bored Ape Yacht Club NFT holders have access to a new merchandise drop. The BAYC x McBess x The Dudes drop contains apparel, accessories, and artwork. Amongst the items are t-shirts, jackets, prints, and stickers with monochromatic designs. Reddit brought half a million or more newcomers to the world of NFTs, using a jargon-free approach to presenting digital collectibles. Around three million wallets have been created to acquire Reddit’s Collectible Avatars, and sales volumes have exceeded US$6.7 million. X2Y2 recorded a -19% decrease in sales and a -15% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +21% and its transaction count also increased +9%. The total market cap for GameFi tokens now stands at $7.83 billion, up +9% from last week. Crypto.com NFT in the Spotlight The “Visa Masters of Movement” NFT collection is a fusion of football, art, and technology. To celebrate FIFA World Cup Qatar 2022, Visa has taken some of football’s most iconic moves from five legendary players and transformed them into digital art. Proceeds from the sales of this collection will also benefit the charity Street Child United. DeRace is an NFT horse racing metaverse based on blockchain technology and it allows players to race, equip, breed, and rent NFT horses. Each “DeRace Mystery Box” contains one wearable NFT for your virtual horse, including saddles, horseshoes, and stirrups.These can be used to unlock the performance of the NFT horses or traded on NFT marketplaces. NFT Highlights NFT marketplace LooksRare switches to optional royalties OpenSea revises OpenRarity Protocol to reflect market dynamics Twitter will allow users to buy and sell NFTs through tweets Over $1M worth of ETH and NFTs stolen in phishing attack Apple to allow in-app purchase of NFTs, subject to 30% tax rate Swiss Seba Bank launches NFT custody despite market decline GameFi Highlights Gaming and NFTs will drive Web3 growth: Crypto.com COO Blockchain game Alien Worlds launches in-game DAOs Nissan to launch game NFTs Axie Infinity drops 22% over the week amid fears of token unlock GameFi-focused network Oasys Blockchain launches mainnet with support of Sega, Ubisoft, and Bandai Namco NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $234,000 Minted Cronos Cruisers $291,000 Magic Eden y00ts: mint t00bs $1,711,000 OpenSea CryptoPunks $6,566,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $234,000 Sample Platform Minted Collection Cronos Cruisers Sales Volume (USD) $291,000 Sample Platform Magic Eden Collection y00ts: mint t00bs Sales Volume (USD) $1,711,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $6,566,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.  
US Inflation Rises but Core Inflation Falls to Two-Year Low, All Eyes on ECB Rate Decision on Thursday

Saxo Bank's Podcast: Discussion On US Consumer Credit Growth, China Is In Focus Over Its Covid Situation

Saxo Bank Saxo Bank 07.11.2022 11:54
Summary:  Today we step back and look at last week's price action and especially after the FOMC rate decision. China is in focus over supposedly easing its Covid restrictions lifting copper and other industrial metals including emerging market equities. The USD also seems to be rolling over in the short-term easing financial conditions a bit and lifting risk sentiment. On the macro side, we discuss US consumer credit growth and what it means for the cycle and we highlighting the plunge in European economic activity over the past three months. On equities, we discuss rumoured Meta layoffs and Apple cutting its iPhone production target. Today's podcast features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting an on FX. Listen to today’s podcast - slides are available via the link. Follow Saxo Market Call on your favorite podcast app: Apple  Spotify PodBean Sticher If you are not able to find the podcast on your favourite podcast app when searching for Saxo Market Call, please drop us an email at marketcall@saxobank.com and we'll look into it.   Questions and comments, please! We invite you to send any questions and comments you might have for the podcast team. Whether feedback on the show's content, questions about specific topics, or requests for more focus on a given market area in an upcoming podcast, please get in touch at marketcall@saxobank.com.   Source: https://www.home.saxo/content/articles/podcast/podcast-nov-7-2022-07112022
Meta Is Cutting Discretionary Spendings And Extending Its Freeze On Hiring

Meta Is Cutting Discretionary Spendings And Extending Its Freeze On Hiring

Saxo Bank Saxo Bank 10.11.2022 09:12
Summary:  Risk sentiment took a beating again as the midterms fever faded with a lack of a Republican wave, and focus shifted back to the crypto turmoil and continued surge in Covid cases in China. Tech layoffs also took another step up with Meta slashing 13% of its workforce. USD gained despite lower US yields as it is likely turning more risk-sensitive than yield-sensitive, but focus on US CPI will add to some caution ahead of the release. A hotter-than-expected core print will likely bring the focus back on Fed’s hawkishness. What’s happening in markets? The Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) dropped on crypto selloff, earnings disappointment, lower oil prices, and midterm elections S&P 500 plunged 2.1% and Nasdaq fell 2.4%. The sell0ff was board based with all 11 sectors of the S&P 500 in the red. The energy sector was the worst performer, falling 4.9% as crude oil prices down nearly 4% on rising US inventory levels. The collapse in crypto prices deepened, following Binance’s decision to walk away from its short-lived takeover bid for the ailing FTX. Robinhood Markets (HOOD:xnas) fell 13.8% as investors were concerned if FTX’s Sam Bankman-Fried might liquidate his 7.5% stake in Robinhood. Disney (DIS:xnys) plunged 13.2% on disappointing earnings. Meta Platforms (META:xnas) gained 5.2% after the company announced to layoff 13% of its employees to cut costs. US treasury (TLT:xnas, IEF:xnas, SHY:xnas) yields fell in a mixed session U.S. treasuries, in particular, the frontend of the curve were supported by selloff in equities and crypto, dovish comments from Fed Evans, and strong rallies in the European bond markets, seeing 2-year yields down 7bps to 4.58%, and 10-year yields falling 3bps to 4.09%. European bond yields dropped on the news that Russia was withdrawing its troops from Kherson, a Ukrainian regional capital city annexed by Russia less than two months ago. Chicago Fed president Charles Evans, who is retiring, said in an interview that there are “benefits to adjusting the pace as soon as” the Fed can and the Fed should not keep raising rates by a large amount every time on disappointing economic data. The 10-year auction did poorly with weak demand from investors but the market managed to shrug it off and had a strong close. Hong Kong’s Hang Seng (HSIX2) China’s CSI300 (03188:xhkg) The China reopening trade continued to fade on Wednesday as new domestically transmitted cases surged further to 8,176 the day before. Hang Seng Index retreated 1.2% and CSI 300 slid 0.9%. China’s CPI fell to 2.1% Y/Y and PPI declined 1.3% Y/Y in October, signaling weak domestic demand. Share prices of Chinese developers however surged, following Chinese authorities saying that they were expanding an existing credit support programme by RMB250 billion to help private enterprises, including developers, in raising debts, by providing debt insurance or bond buying. Country Garden (02007:xhkg), up 13.9%, Longfor (00960:xhkg), up 4%, were top performers in the Hang Seng Index. After trading 1% to 4% lower during the Hong Kong session, China Internet names continued to face selling pressure overnight in New York, with ADRs of Alibaba (09988), Tencent  (00700:xhkg) ,and Meituan (03690:xhkug)  each falling around 3% from their Hong Kong closing levels. FX: USD gains return as risk sentiment deteriorates The USD was back on the front foot on Wednesday ahead of the critical US CPI data due today. US midterms still ended in a political gridlock, even though a Republican wave was avoided. However, limited implication on policy means market focus can return to other key events, such as the crypto turmoil and further rise in China’s Covid cases. US 10-year yields dropped below 4.1% but it appears that the USD is not more risk-sensitive rather than being yield-sensitive. Geopolitics turned calmer with Russia retreating from the only Ukrainian regional capital captured, Kherson, but that brings some risk of new escalations as Putin gets desperate. Focus on US CPI however brought some weakness back in the DXY in early Asian hours with USDJPY back below 146.20. GBPUSD bounced back after a brief slide below 1.1350 and the EUR bounced back higher from parity. Crude oil (CLZ2 & LCOF3) WTI futures dipped further below $90/barrel mark, now touching the $85 handle, while Brent moved lower to sub-$93. Oil prices declined as the EIA reported US crude stocks rose by 3.9 million barrels to the highest since July 2021. This was offset by tightness in the fuel product markets. Gasoline inventories fell by 900kbbl, and distillate fuel stockpiles fell by 521kbbl. Meanwhile, sustained rise in Covid cases in China continued to take a hit on the demand outlook. New cases in Beijing jumped to the highest level in more than five months. Of particular concern was the number of infections found outside quarantine, suggesting the virus is still circulating through the community and would likely delay the easing of Zero Covid policies. Wheat (ZWZ2) prices lower, along with Corn, after USDA report The USDA released it’s November World Agricultural Supply and Demand Estimates report, which led to mixed but mostly lower grain prices. While the overall wheat consumption outlook was raised, USDA said demand may drop in some places, including Indonesia and Sri Lanka, due to high prices. Wheat prices plunged 2.5%. The agency also lifted its soybean output and stockpiles outlook, but robust export demand lifted prices. Meanwhile, USDA expects to see the seventh-largest corn crop on record this year, with a new estimate of 13.93 billion bushels.   What to consider? US midterms avoided a Republican wave Even with votes still being counted and runoffs yet to come to determine the US Senate majority, the midterm election didn't bring the red wave that was expected. Republicans are inching towards control of the House, but with a far narrower margin than what was predicted. Meanwhile, Democrats are likely to keep their majority in the Senate but the outcome won’t likely be confirmed for a while as Georgia heads to a runoff on December 6. The end result is still a political gridlock, much as expected, but with far smaller market implications given lack of a firm policy direction. US inflation to test the 8% level, watch core and stickier components Bloomberg consensus expects US October CPI to drop below the 8% mark and come in at 7.9% YoY from 8.2% previously, but still higher at 0.6% MoM from 0.4% in September. The core measure is also expected to ease slightly to 6.5% YoY, 0.5% MoM (prev. 6.6% YoY, 0.6% MoM) but still remain elevated compared to historical levels. Key to watch also will be the drivers of inflation, particularly the stickier shelter and services costs, which if stuck higher could move the December Fed funds future pricing more towards another 75bps rate hike, resulting in another round of selloff in equities and dollar gains. However, there is another CPI report due before the next Fed meeting in December, and we are going into today’s release with a weak risk sentiment following the crypto meltdown seen this week. This suggests that even a print that matches expectations, or is above it, will likely bring another selloff in equities and further support for the dollar. Binance walked away from FTX acquisition, another plunge in Bitcoin The contagion in the crypto and equities we mentioned yesterday is already here, and getting worse as latest developments suggest that Binance backed away from its earlier pledge, tweeting Wednesday afternoon that it would not pursue the acquisition of FTX. It cited due diligence and a reported US investigation into the exchange. Bitcoin plunged below $16,000, , while Ether followed and dipped to its lowest price since July, barely hanging on to the $1,100 level. China is in disinflation China’s PPI declined 1.3% Y/Y in October due to falls in energy and materials prices and weaknesses in metal processing. CPI inflation was also weaker than expected and fell to +2.1% in October from 2.8% in September on weak consumer demand, falling residential costs, and declines in vegetable prices. Meta to layoff 13% of its workforce Meta’s Mark Zuckerberg announced the social platform’s plan to layoff over 11,000 employees, about 13% of its workforce. Zuckerberg also said Meta is cutting discretionary spendings and extending its freeze on hiring through Q1 2023. The company reaffirmed its Q4 revenue guidance of USD30-32.5 billion, in line with expectations. Capex for 2023, according to the Company, will be in the range of USD34-37 billion, at the low end of prior guidance of USD34-39 billion.   For our look ahead at markets this week - Listen/watch our Saxo Spotlight. For a global look at markets – tune into our Podcast.   Source: https://www.home.saxo/content/articles/equities/market-insights-today-10-nov-2022-10112022
Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

Meta Will Begin Cutting 11,000 Employees | A New Local Low In The Ethereum Market

InstaForex Analysis InstaForex Analysis 10.11.2022 10:19
Crypto Industry News: Facebook's parent company Meta will begin cutting 11,000 of its 87,000 employees on Wednesday morning, the company said on Tuesday. Meta CEO Mark Zuckerberg released a statement explaining why the company is making the cut and what went wrong in the development of the tech giant and social media: "We are basically making all of these changes for two reasons," he wrote. "Our revenue forecasts are lower than expected earlier this year, and we want to make sure we're operating efficiently with both Family of Apps and Reality Labs." Zuckerberg said he believed the prediction that the massive pandemic-induced rise in e-commerce would represent a lasting shift in consumer behavior, and invested the company's resources accordingly. "Unfortunately, it did not go as expected," he said. "Not only has online trading failed to return to previous trends, but the macroeconomic slowdown, increased competition and loss of ad signal have resulted in our revenues being much lower than expected." I made a mistake and I take responsibility for it. The company announced that the layoffs will affect every organization in Family of Apps and Reality Labs, but recruiting staff will be "disproportionately affected" by the company's extended job freeze, and that business teams will also be "cut more significantly." In addition to the layoffs, the largest in the company's history, Zuckerberg outlined several other austerity measures, including reducing budgets and benefits and reducing the company's presence in the real estate market. Zuckerberg said the company will focus its resources on "fewer high priority growth areas," including the AI engine, advertising and business platforms. The meta lost more than $ 80 billion in market value in October after it reported a profit of $ 4.4 billion, down 52 percent in the third quarter. On February 3, the company saw its biggest one-day slump in U.S. history, shedding $ 230 billion in market value after exceeding targets for Q4 2021. But despite investors and tech experts pointing to the company's exaggerated virtual reality hopes and investment as the main reason behind Meta's underperformance, Zuckerberg listed his "long-term meta-universe vision" among his top priorities for the future. Technical Market Outlook: The ETH/USD pair has made a new local low at the level of $1,077in and immediately started a dynamic bounce towards the level of $1,191. Nevertheless, the bearish pressure is still high and the next target for bears is seen at the level of $886 (yearly low's). The momentum is weak and negative already on the H4 time frame chart, so the down move might continue lower. The nearest technical resistance is seen at the level of $1,191 - $1,219 (old demand zone, now will act as the supply zone). In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,635 WR2 - $1,605 WR1 - $1,587 Weekly Pivot - $1,575 WS1 - $1,557 WS2 - $1,544 WS3 - $1,514 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-11-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300443
US Treasury Rates Hold Strong as Inflation Report Looms, Dollar Resilience Continues

Metaverse Is Providing Opportunities For Both Its Users And The Virtual Economy To Proliferate

ByBit Analysis ByBit Analysis 29.11.2022 13:34
The metaverse has transitioned from fiction to reality virtually right before our eyes. Metaverse Index stands poised to capitalize on the excitement surrounding this growing trend. By providing traders with exposure to several tokens rather than just one, Metaverse Index has forged a novel way to participate in the expanding metaverse and profit from the rise in virtual economies as a whole. In this article, we dive deep into MVI (Metaverse Index) to explain what it is, how it works and where its average price is expected to go today, tomorrow and a decade from now. What Is Metaverse Index?   Metaverse Index is a cryptocurrency index product consisting of a basket of tokens designed to track social, economic, business, entertainment and sporting trends as they shift toward virtual environments.   The metaverse is a boundless interactive cosmos that’s designed to provide opportunities for both its users and the virtual economy to proliferate and flourish. Investing in the metaverse can be done in any number of ways, the most common one being the purchase of The Sandbox, Enjin Coin and other metaverse-related tokens. However, much as savvy investors choose ETFs and index funds that track the S&P and other stock markets for relatively stable long-term gains, investors can take the same “basket” approach with the metaverse and crypto markets by investing in Metaverse Index, or MVI. Introduced by Index Coop in 2021, Metaverse Index is a liquidity-adjusted, root capitalization–weighted index, developed to capture and capitalize on the increasing trend shift toward virtual reality via its MVI token. This ERC-20 token represents the index, which is a collection of various Ethereum-based tokens chosen according to a strict set of metrics. In other words, Metaverse Index aims to tokenize the virtual worlds of the metaverse by providing a single investible token, MVI. Representing 16 tokens tied to the metaverse in one form or another, MVI can be viewed as a representation of the strengthening or weakening of virtual reality and crypto trends. Rather than forcing investors to place all of their hopes on the performance of a single token, Metaverse Index allows them to spread their risk across several tokens and potentially profit from their cumulative overall performance. As such, MVI and other metaverse index funds, such as DeFi Pulse Index, can be viewed as viable entry points for metaverse newcomers. What Is an Index Fund? Metaverse Index is one of many products developed by Index Coop, a DAO specializing in the creation of cryptocurrency index tokens. Crypto index funds (tokens), such as Metaverse Index, provide traders with broader exposure to crypto markets, the metaverse and specialized industry segments, allowing them to engage in trading in a simpler, more streamlined fashion. Index Coop offers a number of different index fund tokens. Tokens for each index are selected according to specific criteria. The Metaverse Index fund captures 16 metaverse-related tokens, including Enjin Coin (ENJ), Illuvium (ILV) and Decentraland (LAND), among others. By grouping these tokens into one single token in the form of MVI, Metaverse Index aims to offset the volatility inherent to investments in individual tokens. In addition to greatly minimizing volatility, an index fund also greatly reduces gas fees, commissions and trading fees for stocks and traditional investments. Rather than paying fees for each individual token, traders can maximize profits by paying much less in fees for the same amount of exposure. This is the beauty of index funds. By allowing traders to invest in baskets of tokens, stocks or other securities, they minimize the risks and volatility associated with trading individual assets, while simultaneously creating savings in the form of fewer gas or trading fees. Considering the significant short- and long-term growth forecast for the crypto/DeFi/metaverse space, it’s a win-win, depending on the tokens selected for the fund. Index funds take market capitalization, liquidity history, security features and more into consideration when deciding which tokens they’ll include. Origin of Metaverse Index Metaverse Index was launched in 2021 by Index Coop, short for Index Cooperative, as a means for traders and investors alike to profit from the rise in metaverse popularity as it continues to permeate all aspects of society and create new cultural norms. With the financial backing of Sequoia Capital, White Star Capital, Blockchain Ventures and other venture capitalists, Metaverse Index was collectively launched by Index Coop’s founders, without any third-party involvement. How Does Metaverse Index Work? Since the Metaverse Index token is an index fund product, it has no tokenomics or issuance/supply schedule, as typical tokens on the crypto market do. The token represents not one, but an assortment of 16 tokens with varied allocation. Let’s take a look at how it works. Constituent Weighting The folks at Index Coop use constituent weighting when selecting which tokens to include in the Metaverse Index fund. This means each individual token (constituent) in the fund is weighted according to its market capitalization. The weighted aggregation of all constituent prices is used to help calculate MVI’s value. Each constituent must meet certain requirements regarding market exposure, market capitalization and liquidity in order to be selected for the index. The basic criteria include: The token must exist on the Ethereum blockchain, and have consistently reasonable DEX liquidity on Ethereum as well. Total market capitalization must exceed $50 million. Protocol must belong to the NFT, VR, Entertainment or Music category on CoinGecko. Protocol must have a minimum of three months of operational, price and liquidity history. Token must undergo and pass an independent security audit. Index Calculation Metaverse Index uses a combination of liquidity weighting and root market cap to determine the final index weights. For all of the math lovers out there, here is the formula: TW = (75% × RMCW) + (25% × LW) TW = token weight LW = liquidity weighted allocation RMCW = square root of market capitalization–weighted allocation Index Maintenance Metaverse Index is maintained every three months in two separate phases, the determination phase and the rebalancing phase. During the first phase (determination phase), the protocol must be listed as belonging to specific token categories on CoinGecko. Once the outcome of the determination stage is published, and the token has been confirmed as belonging to an appropriate category, the index will enter the rebalancing phase where the index composition will change to reflect the new weights. The change in weighting as a result of this maintenance is reflected during the following quarter. Which Tokens Are Included in the Metaverse Index? The investment universe of Metaverse Index includes a variety of tokens within CoinGecko’s NFTs, entertainment, music, augmented reality and virtual reality categories, each one with at least 90 days of trading history and a market cap of $50 million or more. The following is the complete list of tokens that meet these requirements and are included in the Metaverse Index. Audius Audius is a music streaming blockchain protocol designed to bridge the gap between content creators and their fans. Axie Infinity   Axie Infinity is a popular game leading the play-to-earn (P2E) revolution. The game’s governance token is AXS.   Decentraland Decentraland is the very first completely decentralized metaverse universe. MANA is the native currency used throughout the game. Decentral Games Decentral Games is a metaverse casino located within Decentraland that players can own and operate via the DG governance token. Enjin Enjin is an important piece to the Metaverse Index puzzle. Its utility token, ENJ, is responsible for driving Enjin’s NFT economy, and within Enjin’s ecosystem, businesses can use ENJ to develop and monetize gaming NFTs. Ethernity Chain The Ethernity Chain token (ERN) is used to farm rare, limited-edition trading cards and NFTs created by popular NFT artists on the community-oriented Ethernity Chain platform. Illuvium Illuvium is a well-known metaverse gaming system that’s based on the Ethereum blockchain. At the moment, Illuvium is working on what many expect to be the very first truly playable AAA metaverse game project — one that includes a 3D virtual reality setting, with over 100 Illuvials sprinkled throughout the virtual cosmos. NFTX The ERC-20 protocol known as NFTX is used for creating tokens backed by a variety of NFT collectibles, resulting in instant liquidity for an asset class with well-known liquidity issues. NFTX is the governance coin that allows new proposals to be voted on by token holders. Rally The Rally network is powered by the RLY Ethereum token, giving token holders the ability to collectively create cryptocurrencies known as social tokens, and launch them on the crypto market. With Rally, creators can unlock new revenue streams while giving fans access to merchandise, unreleased content and several other benefits. Rarible Rarible is a popular NFT marketplace included in the Metaverse Index. With Rarible, virtually anyone can buy, sell and mint one-of-a-kind digital goods like game items, artworks and collectibles. Using the RARI governance token, community members can participate in the governance of the Rarible marketplace and treasury. REVV REVV is an Ethereum-based token used to support P2E motorsport blockchain games, like F1 Delta Time (now closed), Formula E, MotoGP™ and other titles developed by Animoca Brands. The Sandbox As its name suggests, The Sandbox is a community-centric metaverse network where anyone can develop and monetize on-chain games using voxel NFT assets. The vibrant gaming economy of The Sandbox is a top performer in driving the average price of MVI and a major contributor to the gaming industry. Terra Virtua Kolect Virtua is an immersive platform where collectors can purchase and display digital collectibles in the virtual reality space known as the “Fancave.” The utility token for the platform is TVK, Terra Virtua Kolect, which collectors can use to participate in the thriving collectible economy, unlock extra features and earn additional rewards. WAXE WAXP is the utility token for the WAX protocol, an e-commerce blockchain built to facilitate NFT value transfer. Partnering with Atari and other major gaming studios, WAXE (the Wax Economic Token converted from WAXP) currently plays an integral role in the Metaverse Index, and has growth potential. Whale WHALE is a virtual social currency backed by some of the rarest NFTs and digital assets on the market. The basket of NFTs supporting the currency include rare digital assets from Avastars, Gods Unchained, Cryptovoxels and several other coveted digital art. Yield Guild Games Yield Guild Games is a DAO that uses the YGG governance and utility token, which can be staked for specific rewards and used to pay for transactions within the Yield Guild Games community. Buying MVI vs. Individual Tokens The metaverse is an open digital space designed to seamlessly integrate endless aspects of the real world, including entities such as identity, ownership and financial value. This open, shared digital space is made possible by advances in virtual reality and blockchain technologies. User-focused tokens play a key role in the metaverse’s operational and economic design. With tokens, anyone can own a slice of the metaverse, along with the value they unlock. However, even for seasoned crypto traders, investing in any single token can result in exposure to high levels of volatility. While volatility can drive up the average price of a token and create significant returns, it can also result in significant losses in no time at all. Much like a traditional mutual or index fund, Metaverse Index and the MVI token aim to minimize volatility while supplying stable returns. By representing a variety of hand-picked tokens rather than a single one, MVI turns the growing trend of virtual reality into a single token anyone can invest in. Advantages of MVI Tokens MVI tokens let crypto traders profit from developments in metaverse technology by investing in several various metaverse protocols, rather than focusing on a single token, asset or platform. This provides several key benefits for traders and investors alike. Risk Management Since holding MVI or another index token offsets the volatility associated with individual tokens, by its very nature Metaverse Index acts as a risk management tool. Cost Effectiveness Buying or selling individual tokens requires gas fees for each transaction. Buying or selling MVI, on the other hand, allows you to trade and profit from over a dozen different tokens and protocols while only paying a single gas fee, rather than several. Simplicity Metaverse Index makes capturing broad market trends simple. Explicitly based on the concept of the metaverse, MVI offers a simplified, straightforward approach to capturing trends without the need for constant research and portfolio rebalancing. Transparency There’s nothing worse than flying blind as a crypto trader, so when it comes to investing your hard-earned money, transparency is a must. Recognizing this need, Metaverse Index employs a transparent set of rules for evaluating tokens for inclusion and exclusion. MVI Tokenomics Since MVI is an index product, it lacks tokenomics and there’s no supply or issuance schedule. The token directly represents a mixture of 16 tokens individually allocated according to a specific formula for liquidity weighting and root market cap. Additionally, although MVI doesn’t follow an issuance or supply schedule, it has a maximum supply of 39,602 coins. Metaverse Index Price Prediction The current price of MVI is $18.59, marking a 2 percent increase in the past 24 hours. However, the price is down 0.5 percent over the past seven days and 34.9 percent over the past 30 days. These price swings are even more eye-opening when looking at longer time frames. For example, MVI is down 94.7 percent on the year. At this time last year, MVI was trading at $355.13. Nonetheless, the question remains: Where will the price of MVI go from here? Currently, the overall sentiment is bearish on the short-term prospects for MVI. In fact, WalletInvestor’s forecast rates the token as a poor investment for at least the next year. The trading volume for MVI, however, remains strong and healthy. When coupled with the undeniable growth of the metaverse trend, the argument can be made that MVI’s current slump is exactly that — a slump. In fact, DigitalCoinPrice and many other crypto forecasters have the price of MVI rising consistently over the coming years. According to their analysts, MVI is expected to reach a minimum price of $39.92 in 2023 and a maximum price of $47.13. By 2025, MVI is predicted to reach $82.03, and by 2031, MVI is predicted to hit $358.92.  If these figures are at least somewhat accurate, the trajectory of MVI appears obvious. While it will likely take several years before MVI once again reaches its peak price of $372.65, which it reached in November 2021, the outlook is promising and the price of MVI should climb consistently in the years to come. Where to Buy Metaverse Index Investing in Metaverse Index doesn’t take much work. You can purchase MVI directly through Index Coop, the DAO responsible for maintaining some of today’s top crypto indices. As a developer and manager of crypto index funds, Index Coop makes investing in crypto and digital assets easier and less costly than building a crypto portfolio on your own. As with other tokens, you can purchase MVI with Ether (ETH). It can also be purchased with DAI, USDC, stETH and WETH. If you do not have any of these, you’ll need to buy some from an exchange that accepts bank or debit card deposits, such as Bybit. Once you have the necessary amount of ETH, you can then connect to your digital crypto wallet and exchange it for MVI. That’s really all there is to it. Is MVI a Safe Investment? Based on present data and all of the information above, Metaverse Index (MVI) — and the greater market environment — have been trending downward over the past 12 months. According to several sources, however, MVI’s future outlook is positive, with steady gains expected over the next 10 years. That said, given the drastic falloff from its all-time high of $372.65 just a year ago, it’s difficult to view MVI as a safe investment, especially for the short term. As a long-term investment or value play, on the other hand, MVI may be worth a look. The Bottom Line Metaverse Index has demonstrated the ability to completely change the way people engage and interact with the concept of the metaverse. The platform combines several of the top metaverse platforms and tokens into a single basket, allowing crypto traders and metaverse enthusiasts to invest in the metaverse trend rather than in a single token. Its methodology just makes sense. If you want to take a hands-off approach to the crypto markets and potentially profit while mitigating risks, Metaverse Index is worth checking out.    
To Simplify The Organization, Pepsico Will Lay Off Thousands Of Workers At The Headquarters In The USA

To Simplify The Organization, Pepsico Will Lay Off Thousands Of Workers At The Headquarters In The USA

Kamila Szypuła Kamila Szypuła 06.12.2022 15:24
The economic situation has also affected food companies. These types of companies are also planning layoffs. Laying off workers at the headquarters of North American In recent months, companies in the tech and media sectors have been laying off workers to cut costs as economic uncertainty puts pressure on their businesses. Several companies in the food industry have also made redundancies. The overall US labor market remains historically tight, with employers competing for limited labor pools and pushing up wages despite an uncertain economic outlook. PepsiCo, which makes the namesake Pepsi soda and products such as Gatorade, Lays chips and Quaker Oats, is reportedly cutting jobs. Food and beverages sold in grocery stores are in high demand despite rising prices affecting many households. PepsiCo and other food companies are raising prices to compensate for higher ingredient, shipping and labor costs. PepsiCo employed approximately 309,000 people worldwide, including approximately 129,000 in the US, as reported on December 25 last year. The layoffs will affect workers at her food and beverage businesses in Chicago; Plano, Texas and Purchase, New York. The company's beverage division is expected to be hit harder by the cuts, as the snacks division has already reduced staff through a voluntary retirement program, according to The Wall Street Journal. PepsiCo explained that the layoffs aimed to “simplify the organization” to ensure further operational efficiency. Wall Street is cautiously optimistic about PepsiCo stock. Currently, PEP is trading at the highest prices of the year. PepsiCo Inc. Chart Meta and cross check Unfair deference to VIP users of  Facebook and Instagram services under a program called “cross check”. Meta asked the board of directors to review the cross-checking process last October and has committed to responding to the group's questions. The Board noted that during the review period, Meta committed to carrying out annual cross-check reviews. The report provides the most detailed review to date of cross-checking, which Meta described as a quality control attempt to prevent moderation errors on content of increased public interest. The board report does not question the value of the secondary review system for moderating posts from high-profile or sensitive accounts. Moreover, the board's opinion blamed the company for its continued understaffing, opacity, and unfairness of the program. Meta claims that the board's content decisions are binding, but is under no obligation to follow its recommendations more generally. The supervisory board called on Meta to make 32 changes to the program. Examples of suggested improvements include separating the process of granting protections for public interest from the process of granting protections to Meta advertisers, or isolating the program from the influence of Meta's public policy team and other managers. Mr Rusbridger said he did not expect Meta to accept all of the board's recommendations. Currently, there is a correlation in the Meta stock price, the question is whether it will continue. Source: wsj.com
The Bank Of Canada Paused Rates Hiking, The ADP Employment Report Had A 242K Increase In Jobs

Bank Of Canada: Market Pricing Points Towards A Smaller 25bps Rate Hike

Saxo Bank Saxo Bank 07.12.2022 08:51
Summary:  Heightened fear about a higher-for-longer Fed tightening cycle, recession warnings from top U.S. bankers, and crude oil falling into new lows weighed on U.S. equities and saw bond yields lower. The momentum of China reopening trade seems to have somewhat exhausted despite more signs of easing Covid restrictions coming out from China. What’s happening in markets? S&P 500 (US500.I) pared all its gains since Powell’s Brookings Institution speech   Declining for the fourth day in a row, the S&P500 pared all its gains since Fed Chair Powell delivered a dovish-leaning speech at the Brookings Institution at the end of November. The solid average hourly earnings and the ISM Services Index data released since Powell’s speech have heightened once again concerns about more rate hikes to come. Two consecutive days of sharp falls in the crude oil price to USD74 weighed on energy stocks. Warnings about weakness in the U.S. economy from CEOs of Goldman Sachs, Bank of America, and JPMorgan Chase added fuel to the recession fear. S&P 500 dropped 1.4% and Nasdaq 100 tumbled 2% on Tuesday. All sectors except utilities within the S&P 500 declined, with energy, communication services, and information technology the biggest losers. Meta (META:xnas) tumbled 6.8& after reports saying the EU is targeting the company’s advertising business model. Apple (APPL:xnas) declined 2.5% as the company said it is scaling back its self-driving EV plans. NRG Energy (NRG:xnys) plunged 15.1% after the power plant operator announced to acquire  Vivint Smart Home. Textron (TXT:xnys) gained 5.3% on winning a helicopter contract from the U.S. Army. US treasury yields (TLT:xnas, IEF:xnas, SHY:xnas) lower as equities retreated As equities declined on the prospects of a higher-for-longer Fed tightening cycle after the recent strong U.S. data, treasuries were well bid with yields falling 2bps to 4bps across the yield curve on Tuesday. The buying came in particularly strongly on the 10-year and 30-year segments. Large curve flatter trades, mainly selling the 5-year versus buying the 10-year took place in the futures pit. The 2-year yield fell 2bps to 4.37% while the 10-year was 4bps richer at 3.53%. Hong Kong’s Hang Seng (HIZ2) pulled back on overseas market weakness; China’s CSI300 (03188:xhkg) Hong Kong stocks pulled back following overnight weakness in the U.S. market and renewed concerns about the Fed’s ability to downshift its pace of hiking interest rates after recent data indicating strength in wage inflation and business activities in the U.S. services sector. The China reopening trade has shown signs of exhaustion as market reactions to the announcement from Beijing to ease PCR test requirements were muted. Hang Seng Index edged down 0.4%. Tech stocks retreated. Hang Seng TECH Index lost 1.8%. Alibaba (09988:xhkg) dropped by 3% and Bilibili (09626:xhkg) plunged by 7%. Ping An Health and Technology pulled back after two days of strong advance, falling 8.9%. Leading EV names dropped by around 2%-6% as profit-taking emerged after recent rallies. Chinese property developers and Macao casino operators were among the top gainers. Logan (03380) soared 32%. In A-shares, CSI 300 gained 0.5%, with the consumer staple, technology, and consumer discretionary sectors outperforming. FX: EURUSD back below 1.05; USDJPY at 137 The US dollar maintained a slight bid tone on Tuesday even as a tech rout spread through equities and recession concerns were highlighted by several bank chiefs. There was little data of note, only October US trade seeing a wider deficit but still better-than-expected. EURUSD fell to sub-1.05 levels as ECB’s Lane said that the bulk of work has been done by the ECB and inflation peak may be near. President Lagarde speaks on Thursday, after which focus turns to the December meeting. Meanwhile USDJPY hovered around 137 with BoJ Governor Kuroda remaining dovish as he said that monetary easing will continue even if wages rise 3%. Crude oil (CLZ2 & LCOF3) plummets to its lowest levels in 2022 Oil prices dipped to their lowest levels since the start of the year as concerns of weaker economic growth offset ongoing supply side issues. Equity markets are now starting to price in recession concerns, as seen from a negative reaction to last week’s ISM manufacturing. Yesterday, a number of bank chiefs hinted at recession possibilities, and there were also reports of further job cuts from the likes of Morgan Stanley and even consumer brands like PepsiCo. However, China reopening continues to gather pace but it will continue to be a slow exit from Zero Covid. The Energy Information Administration released its latest market outlook, with a contraction in US economic activity in Q2 2022 and Q1 2023 weighing on demand. It also raised its forecast for US supply to 12.34mb/d in 2023. Meanwhile, Saudi Arabia also lowered oil prices for its crude into Asia and Europe, suggesting demand weakness concerns. Australia’s iron ore kings roar back to six-month highs; Australian economic growth data ahead The Australian benchmark index, the ASX200 (ASXSP200.1) opened 0.7% lower following Wall Street. However, as the iron ore price advanced, iron ore players are testing six-month highs; Fortescue Metals, Champion Iron, BHP, and RIO shares are all higher, testing new six-month highs. Metal companies such as BlueScope Steel and Sims are also higher. In terms of economic news out today, Australian economic growth is due to be released; expected to show an improvement in the gross domestic product (GPD) in the third quarter of 2022. GPD is expected to show growth rose from 3.6% YoY, to 6.3% YoY. We will be watching the Aussie dollar and how it reacts, which a knee-jerk rally up likely if growth is hotter than expected. Also, remember services are the biggest drivers of GPD in Australia; so watch travel stocks, such as Flight Centre, Corporate Travel Management, Webjet, Auckland International Airport, and Qantas. Also keep an eye on stocks affiliated with dining out such as Endeavour Group, Treasury Wine, and Metcash which owns Celebrations, IGA Liquor, and Bottle-O.   What to consider? Saxo’s Outrageous Predictions 2023 are now out! Saxo's ten Outrageous Predictions for 2023 are now out. The theme revolves around a War Economy, not just in military terms, but in economic, political, and social terms as well. Gone are the days when low interest rates could foster dreams of a harmonious world built on renewable energy, equality, and independent central banks. In 2023, world economies will shift into war economy mode, where sovereign economic gains and self-reliance trump globalisation. Some of the calls include Gold rocketing to $3000, the UK holding an UnBrexit referendum, or even a new reserve currency to replace the dollar. Remember, it’s not about being right. The predictions focus on a series of unlikely but underappreciated events which, if they were to occur, could send shockwaves across financial markets. The APAC strats team, together with our CIO Steen Jakobsen, will be hosting a webinar on December 14 to discuss these predictions. The signup link can be found here. Real wages shrank 2.6% Y/Y in Japan In October, the real cash earnings of Japanese workers declined 2.6% Y/Y (consensus -2.2%; Sep: -1.2% revised), the biggest fall in seven years. Nominal wages slowed to a growth of 1.8% Y/Y (consensus: 2.0%, Sep: 2.1%). Household spending growth slowed to 1.2% Y/Y in October from 2.3% in September. Beijing relaxed PCR test requirements Beijing, joining other cities, announced to lift the requirement for negative PCR test results when entering public venues or taking public transport. Australia’s central bank, the RBA says inflation will continue to cause more pain, validating its hiking path Australia’s central bank, the RBA increased the cash rate by 25bps in the eighth consecutive rate hike, taking the cash rate from 2.85% to 3.1% as expected. However, the RBA toed the line staying on a dovish path, saying the full effects of rates hikes since May have not been felt yet by the economy, while also declaring employment growth had slowed. As such the RBA said its path to achieving a soft landing is narrow, meaning it might be hard to avoid a recession. This also follows news out of Australia today that its current account fell into a deficit for the first time since 2019. The RBA warned it sees inflation increasing over the months ahead, particularly in wages. It conceded inflation is damaging the economy and making life more difficult for people, which traders took as an indication the bank won't pause rate hikes any time soon. China’s Xi is visiting Saudi Arabia from Dec 7 to 9 China President Xi Jinping is expected to fly to Saudi Arabia on Dec 7 to attend a China-Arab summit on Friday. Bank of Canada rate decision due today The Bank of Canada statement is due today and consensus expects another 50bps rate hike taking the overnight rate to 4.25%. However, market pricing points towards a smaller 25bps rate hike. The path of interest rates from here is also very cloudy, with a pause likely coming in early 2023. Therefore, any guidance on rate path will be key to watch for CAD which is lately getting hurt due to the lower oil prices. U.S. leading bank CEOs warned about the possibility of a U.S. recession Jamie Dimon, CEO of JPMorgan Chase, said in a CNBC interview that he saw the possibility of a “mild to hard recession” in the U.S. next year. Likewise, David Solomon, Chairman/CEO of Goldman Sachs, said there is a “very reasonable possibility” that the U.S. enters a recession in 2023. Bank of America’s CEO Brian Moynihan said consumer spending is slowing and the bank is slowing its hiring. EU is targeting Meta’s advertising business model EU privacy regulators are reportedly ruling that Meta, the owner of Facebook should not require Facebook users to agree to personalized ads based on their online activity. The move restraints Facebook’s ability to present targeted ads to users. Apple is postponing its self-driving EV launch to 2026 Apple is said to scale back its self-driving EV plans and is postponing the target launch date to 2026 due to technological hurdles in a self-driving EV without a steering wheel or pedals. Geely is taking its ride-hailing firm to do an IPO in Hong Kong Chinese auto maker Geely is said to be talking to investment banks for a Hong Kong IPO of its Cao Cao Mobility ride-hailing arm. The US and EU are weighing new tariffs on Chinese steel and aluminium According to Bloomberg, citing people familiar with the matter, the U.S. and European Union are considering new tariffs on Chinese steel and aluminum products to reduce global overcapacity and  carbon emissions.   For our look ahead at markets this week – Read/listen to our Saxo Spotlight. For a global look at markets – tune into our Podcast. Source: Market Insights Today: Recession concerns hitting markets, WTI at year-lows – 7 December 2022 | Saxo Group (home.saxo)
Unlocking the Future: Key UK Wage Data and September BoE Rate Hike Prospects

Buying In China Tech And In Airlines Shares Picked Up

Saxo Bank Saxo Bank 09.12.2022 09:05
Summary:  In today’s five minute video we bring you up to speed with what traders and investors in Australia at Saxo, have been doing this week. It reflects the two major drives of markets, higher for longer interest rates in US and a potential recession. On the other side, some clients are somewhat excited about China’s major cities easing restrictions, and dangling the carrot to ease further. We explore if upside is sustainable in metals, such as iron ore and why buying is picking up in the US dollar, with the USD index seeing its strongest gain in 12 weeks.   Investors and traders are bunkering into the theme of higher for longer interest rates in the US, and a potential recession This is the major theme that's driving markets and pushed global equities lowers this week. So we’ve been seeing profit taking, a little more selling and options put on tech companies, including Tesla, Google, and Apple  - more so than the last few weeks. And buying of the US dollar picked up again; with the DXY set for its biggest gain in 12 weeks, ahead of US CPI next week and the final Fed decision for 2022. There is pent up investor demand for investing in China’s reopening theme This is the second major driver of markets of late. It comes as five major cities have eased restrictions and dangled the carrot to ease further. As well as potentially scrapping mask wearing.  Commodities buying picked up on the platform at Saxo, given there are hopes for China to fast track economic growth next year. Buying in lithium stocks;  Pilbara Minerals, Allkem picked up  Buying in Fortescue Metals also picked up. This is because the commodity Fortescue makes 90% of its revenue from, iron ore (SCOA) the key steel making ingredient, rose 3.6% this week, taking its gain from the October low to 44%, with the price of the iron ore hitting $110.20, a new four month high. The price of iron ore has been rallying as China is easing restrictions and today the market heard whispers that Chinese property developers will get more support, which would support demand for iron ore rising. However it looks like buying volume in iron ore slowed for now. So perhaps until we see more concrete announcements or further easing of restrictions, iron ore and iron ore miners could maybe see a bit of profit or buying fade next week, especially as iron ore stocks were this weeks best performers. Once we get more hopes, the iron ore price might be supported higher along with upside in iron ore majors shares; Fortescue Metals, Champion Iron, BHP and Rio. Also, next week, iron ore majors may see share price upgrades from buy and sell side brokers. Buying in China Tech picked up;  given there are favourable interest rates in China, pent up demand, and restriction are easing. As such buying in Alibaba picked up.  In energy markets, buying in coal stocks picked up; with Whitehaven Coal buy orders rising.  And lastly, buying in airlines shares picked up as well. Especially in those air companies that travel in and out of Hong Kong, Such as Cathay Pacific. Qantas also saw increased buys.     For a weekly look at what to watch in markets - tune into our Spotlight.For a global look at markets – tune into our Podcast. Source: Video: What traders and investors have been buying amid recession concerns versus China easing restrictions | Saxo Group (home.saxo)      
FX Market Update: Dollar Strengthens on Higher-For-Longer Narrative Amid US Data Resilience

"Candid Stories" - Instagram like BeReal? Supermarkets Are Doubling The Number Of Their Own Product Lines

Kamila Szypuła Kamila Szypuła 14.12.2022 12:46
After losing ground to branded products during the pandemic, private label sales have regained momentum this year. Also, Instagram updates come as young people flock to newer apps like BeReal and TikTok. Own brands of stores are becoming more and more attractive Growing inflation has made consumers pay attention to the price and prefer to take advantage of cheaper sukpermaket products instead of their branded counterparts. A recent survey of food retailers by FMI, a food retail group, revealed that more than 80% of respondents plan to moderately or significantly increase their investment in private labels over the next two years. Supermarkets tend to make a higher profit margin on private label goods than on the sale of branded products made by consumer giants. Large supermarket operators such as Kroger Co. in the US and Carrefour S.A. in Europe say they are investing to expand their internal offerings in more price ranges and product categories. Kroger's private label sales increased more than 10% year-on-year in the third quarter, which saw the launch of 147 new store-brand products. Kroger launched a new bargain line called Smart Way in September, which has been purchased by two million households. As the data shows, KR share prices have increased the most this year since the beginning of the pandemic. In the recent period, prices have been in a downward trend, and today their level is 45.45 Kroger shere chart Walmart Inc. it also develops its private label products and tracks growing consumer demand as revenues are squeezed. The Dutch group Koninklijke Ahold Delhaize NV manages supermarket chains in Europe and the US, where its brands are Food Lion and Stop & Shop. The company says its store brands account for half of its sales in the Netherlands and Belgium compared to 30% in the US. The picture is similar in some other parts of Europe, where shoppers tend to buy more branded goods than their American counterparts. Read next: $1 Trillion As Part Of Barclays Efforts To Accelerate The Transition To A Low-Carbon Economy | FXMAG.COM Instagram new feature The photo-sharing app owned by Meta Platforms Inc (Instagram) has been testing a new feature in South Africa since Tuesday. Over two billion people use Instagram every month, says Meta. The app and its parent company had concerns about its impact on younger users. At the same time, some users — including celebrities who have long been champions of the platform — urged the company to "turn Instagram back to Instagram" by prioritizing friends' posts over paid posts. Candid Stories gives users a daily notification to take and share two unfiltered photos using the front and rear camera lenses - similar to the prompts sent by BeReal, which has recently garnered millions of users. Instagram did not say when or if Candid Stories will go global. If Candid Stories goes mainstream, Instagram could have an advantage over BeReal in terms of scale and business model. For Meta critics, Candid Stories will be the latest example of Instagram emulating the features of other popular apps to grow and maintain its user base. Previous examples include Stories, a Snapchat hallmark, and Reels, short TikToks-like videos. Instagram is testing other friend-centric tools. Group Profiles, a new type of profile, allow members to share posts and stories with each other rather than with all of their followers. Group profiles have already started testing in Canada, Chile and Taiwan. The new features are intended to give users more ways to interact with people. After a year-low, Meta shares rose at first but then fell and held its price in the 114-115 range. Today's share price is at 114.71 Source: wsj.com, finance.yahoo.com
US Inflation Slows as Spending Stalls: Glimmers of Hope for Economic Outlook

Leading Used Tesla Prices Fall Faster Than The Market

Kamila Szypuła Kamila Szypuła 28.12.2022 11:31
The electric car market is mainly associated with Tesla, its situation is also observed by investors. The stock markets are still attracting new investors, the current year is coming to an end, so it is worth checking what should be confessed to this market in 2023. In this article: US Treasury yields fell Morningstar look at stocks market Tesla news US Treasury yields fell Investors are bracing themselves for the potential pressures of a recession, persistent inflation and what this could mean for Federal Reserve policy, especially with regard to interest rates, in 2023. They will be scouring the latest economic data releases this year for clues. Many investors are hoping the data will signal an easing of inflationary pressures, as it would suggest the Fed may slow down further or stop rate hikes altogether. These factors affect the market situation of bonds. US Treasury yields fell on Wednesday as investors became concerned about economic growth and the direction of monetary policy for 2023. Treasury yields slip as investors gauge 2023 Fed policy https://t.co/uR6xgrxlPy — CNBC (@CNBC) December 28, 2022 Read next: The Crisis Of The Semiconductor Industry, Chip Inventory Levels Are Well Above Our Target Level| FXMAG.COM Morningstar look at stocks market The new year is getting closer. Everyone prepares as best they can to start it in the best possible way, makes plans. The stock market is under the watch of Morningstar analysts. How it presented itself this year and what it is heading for in 2023 is detailed in the following tweet. Early in the year, Morningstar analysts deemed many of the stocks they cover to be overvalued. But after the broad market has fallen more than 20 percent since the start of the year, analysts believe valuations have moved too far in the opposite direction. Over the last 20 years, Morningstar analysts found that US stocks were undervalued only 10 different times, or about 36% of the time. According to Morningstar, among the most underrated industries today are online content and information, including stocks like Alphabet (GOOGL), Google's parent company, and Meta Platforms (META), Facebook's parent company. Where are stocks looking cheap or expensive as we head into 2023?Here are 7 charts detailing our analysts' latest stock market valuations: https://t.co/UZMK7Ygufy pic.twitter.com/uUsnYGWKZI — Morningstar, Inc. (@MorningstarInc) December 28, 2022 Tesla Tesla is the most popular manufacturer of electric cars. Sales have increased in recent years, but many factors affect car prices. Fuel prices are easing, interest rates are rising, Tesla output is increasing, and EV competition is growing, all of which have implications for the price of used Teslas. Soaring gasoline prices as a result of the war in Ukraine have boosted demand for the Tesla, one of the few long-range electric vehicles on the market. Buyers of some new Teslas took advantage of the booming market to sell their relatively new cars at a profit and then order new ones, fueling the demand for new Tesla cars. Used Tesla prices are falling faster than those of other automakers, and clean energy status symbols languish in dealerships longer, according to the information. WATCH: Fuel prices are easing, interest rates are rising, Tesla output is increasing, and EV competition is growing, leading used Tesla prices to fall faster than the market. It's creating a cascading effect on new Tesla prices https://t.co/jCLZphpcRX pic.twitter.com/ZgXRr3d2Fc — Reuters Business (@ReutersBiz) December 28, 2022
Twitter And Elon Musk Faced A Growing List Of Claims

Twitter Did Not Pay $136,260 Rent, Microsoft Reported Its Worst Quarterly Results In Years

Kamila Szypuła Kamila Szypuła 02.01.2023 12:04
Twitter has been struggling with new problems since the beginning of the year. This time he was accused of not paying the rent. Other tech companies are also having problems. 2022 was not the best year for Meta or Mircrosoft stocks. Twitter has another problem While Elon Musk has been working to cut costs on Twitter since he took over the company in October. More problems arise. Recently there has been an inflromation that the social platform will experience technical difficulties in using the computer version. Today there was information about financial problems. The owner, Columbia Reit-650 California LLC, says the social media company failed to pay $136,260 in owed rent for office space at 650 California St. The lawsuit alleging breach of contract was filed in the California Supreme Court in San Francisco. Other companies, including a software provider and a transportation company, have also sued Twitter in recent weeks in an effort to recover overdue payments. Can this prove that under the leadership of a businessman, Twitter is struggling with serious financial problems. What's more, according to Twitter data, hasn't booked an annual profit since 2019. Even though the new year has brought some shocking news about Twitter, its shares are above 50 and thus are the highest. Read next: Walmart Has Ambitions To Become An E-Commerce Leader| FXMAG.COM It was a tough time for tech stocks The future outlook is an important aspect when buying stocks, especially if you are an investor looking for growth in your portfolio. For most of the past decade, investors have focused on high-growth tech stocks whose strong year-over-year returns have convinced them they have no choice but to grow. Soaring stocks like Facebook's parent company Meta Platforms Inc., Amazon.com Inc., Apple Inc., Netflix Inc. and owner of Google Alphabet Inc. caused the major indices to hit dozens of new highs. The trade has become so popular that it has its own acronym: FAANG. Meta dropped 64% in 2022; Netflix dropped 51%; the other three shares fell at least 27%. Together, FAANG shares have lost more than $3 trillion in market value, helping to pull the wider stock market down with it. As consumers and businesses tighten their belts to prepare for a potential recession, tech companies that seemed immune to the economic woes of the pandemic have seen their revenues plummet. Companies like Microsoft reported their worst quarterly results in years. Amazon and Meta announced layoffs. When interest rates were close to zero, investors were more willing to pay for growth stocks and risky assets in search of higher returns. However, with the Fed raising interest rates at the fastest pace since the 1980s, the market environment began to favor investments, which now generate cash for the holder. Even after tech stocks ran out last year, the sector still looks expensive compared to the wider market. Although the tech stock market has not been positive lately, MSFT prices have kept their prices above 200. The second half of last year was quite weak for this company's stock and mostly in a downtrend, but prices remained mostly above 225. MSFT share price Meta shares also had their worst period recently, with the price mostly staying around 120. Meta share price Source: wsj.com, finance.yahoo.com
Czech Inflation Falls to Single Digits, Lowest in CEE Region

Trump Returns To Social Media, Meta Will Restore The Former President's Account

Kamila Szypuła Kamila Szypuła 26.01.2023 09:49
Meta Platforms Inc., the mother of Facebook, has said it will bring back former President Donald Trump's Facebook and Instagram accounts. Trump Has Been Banned Meta suspended Trump's Facebook account indefinitely in January 2021 after determining that he praised the violence committed by his supporters on the United States Capitol in response to false claims of election rigging. His Instagram account has also been suspended. The ban was initially supposed to last 24 hours when the company on Wednesday said it had removed Trump's video that repeated baseless claims that the election was rigged and expressed support for the protesters. Trump, like Republican lawmakers, criticized the efforts of social media companies in the run-up to and after the November 3, 2020 presidential election, claiming that their content censorship efforts were aimed at suppressing conservative views. The group opposed the ban in principle indefinitely. Facebook in June 2021 said the suspension would last at least two years and that it would reverse its decision in January 2023, two years after the original suspension. Also at that time, a YouTube spokesperson announced that any channel posting new videos that spread misinformation about widespread election fraud would be sanctioned, temporarily restricting content uploads or live streaming. Trump opposed the suspension at the time. Facebook has been more important to Trump Trump was a regular user of social media platforms before running for office and while in the White House. Facebook has historically been more important to Trump as a fundraising tool. While Trump was suspended from the platform, his campaign continued to run ads on Facebook. Truth Social After being effectively banned from major social media platforms, Trump launched Truth Social, where he has nearly five million followers. Truth Social launched in the United States, but some potential users reported that they couldn't create an account or were getting error messages when trying. Others have been asked to put themselves on a waiting list. Trump on his social media platform Truth Social said: "Something like this should never happen again to a sitting president or anyone else who doesn't deserve revenge!" Banned on Twitter While in the White House, Trump relied heavily on social media to communicate with his supporters, often bypassing his advisers and traditional media by posting directly to Twitter. Twitter Inc. blocked Trump's personal account in January 2021, citing the risk of further incitement to violence following the attack by a mob of his supporters on the United States Capitol just days earlier. Elon Musk reinstated Trump's account last year. Before Musk took over Twitter, he said in May that he plans to do so after taking over the platform. Musk closed the $44 billion deal in October and lifted the suspension in November, days after Trump said he was running for the White House again. Trump has not resumed posting on Twitter since his account was restored on the platform. Meta share prices After a significant decline last year, Meta's shares are in an uptrend this year. Currently, Meta prices have reached the level of 141.50 compared to the beginning of the year when their level was 124.74. Source: wsj.com, finance.yahoo.com
Tesla Is Expected A Temporary Rally

Musk Intends To Cut Costs In Tesla On Everything

Kamila Szypuła Kamila Szypuła 26.01.2023 11:34
After Elon Musk acquired Twitter, many investors are wondering what's next for Tesla. Recently, after publishing the results, Elon Musk shared plans for Tesla. In this article: Cuts Apple has maintained its position as the largest smartphone manufacturer Asia will be the leader in the future The future of Big Tech in 2023 Cuts Elon Musk's attention has recently been largely focused on Twitter's activities, but he does not forget about Tesla. Musk intends to cut costs on everything from parts to logistics, while keeping the pressure on competitors with discounted sticker prices. Tesla is also cutting costs by redesigning battery and electric motor system components, removing features owners don't use, based on data collected from Model 3 sedans and Model Y SUVs on the road Elon Musk has a playbook for Tesla headed into what he believes will be a 'serious' recession: cut costs on everything from parts to logistics, while keeping the pressure on competitors with discounted sticker prices https://t.co/tyYV26iN6v pic.twitter.com/G1KyALvLjY — Reuters Business (@ReutersBiz) January 26, 2023 Apple has maintained its position as the largest smartphone manufacturer The difficult economic situation also affected the sales of smartphones. Global smartphone shipments declined in the fourth quarter of 2022, according to research firm IDC. A total of 1.21 billion smartphones were shipped in 2022, the lowest annual shipment volume since 2013 due to significantly weakened consumer demand, inflation and economic uncertainty. Apple has maintained its position as the largest smartphone manufacturer in the world. The US tech giant shipped 72.3 million iPhones in the fourth quarter, down 14.9% year-on-year. Samsung, the second largest player in the smartphone market, saw sales fall 15.6% year-on-year to 58.2 million units. Samsung did not release an all-new flagship smartphone for the fourth quarter. Smartphone shipments plunge to a low not seen since 2013 — their largest ever decline https://t.co/KHk5fHELJr — CNBC (@CNBC) January 26, 2023 Read next: Trump Returns To Social Media, Meta Will Restore The Former President's Account| FXMAG.COM Asia will be the leader in the future Since the outbreak of the coronavirus pandemic, global growth has been put to a significant test. This was especially shown in 2022, where the growing inflation and interest rates affected the condition of the economies. Investors and economists are wondering whether global economic leaders will maintain their positions or will this change over the years as a result of events. The United States is the economic leader followed by China. According to economists, this may change and the main driving force of global growth will not be Western countries, but countries from Asia. This is very likely because most of the population is in this region, and this region is developing dynamically and thus offers jobs and attracts new residents. What countries are likely to power global growth in the decades to come? We cover the answer in our #ExchangesGS podcast here: https://t.co/G60vRNYV1u pic.twitter.com/w61esY8sv2 — Goldman Sachs (@GoldmanSachs) January 25, 2023 The future of Big Tech in 2023 2022 was a difficult year for Silicon Valley. After solid growth lasting more than a decade and a pandemic-induced boom, Big Tech giants like Meta, Alphabet and Apple have lost market value. Overall, Big Tech faces countless challenges in 2023, including macroeconomic pressures, increased competition, supply chain issues, and bloated cost structures. However, there are positive sides to every cloud: companies are now rethinking their business strategies, which could pave the way for a more sustainable era for Big Tech. For example, when it comes to Meta, the company is expected to continue to focus on its new AI Discovery engine, ads, and business platforms. Big Tech firms endured a tough year due to macro headwinds, supply chain issues, and plummeting revenues. J.P. Morgan Research explores the opportunities that lie ahead. — J.P. Morgan (@jpmorgan) January 25, 2023
Asia week ahead: Policy meetings in China and the Philippines

China’s Manufacturing PMI Bounced Back To 50.1, The Australian Dollar Continued Its 3-Day Pull Back

Saxo Bank Saxo Bank 01.02.2023 09:29
Summary:  Equities ended January on a positive note, jumping higher yesterday as easing Q4 employment cost index and consumer confidence further supporting the case for a smaller rate hike of 25bps from the Fed later today. Earnings remained a mixed bag with GM and Exxon delivering a beat, but most other signaling margin pressures and dampening consumer growth. Gold and most industrial metals reversed the recent downtrend, helping AUDUSD to rebound from post-retail sales slump lows. Today’s focus will be on Eurozone CPI, US ISM manufacturing and the Fed announcement.   What’s happening in markets? Nasdaq 100 (NAS100.I) and S&P 500 (US500.I) rallied on cooler worker compensation trend After consolidating for one day, U.S. stocks resumed their charge higher, being aided by a softer print of the Employment Cost Index that increased the odds of a pause by the Fed in March or May this year. Nasdaq 100 rose 1.6% and the S&P500 gained 1.5%. The rally was broad-based as all 11 sectors within the S&P500 advanced. Materials, consumer discretionary, real estate, and industrials outperformed. General Motors (GM:xnys) jumped 8.3% on earnings and revenue beats. Exxon Mobil (XOM:xnys) gained 2.2% as the oil major reported record profits. Leading home builder PuteGroup (PHM:xnys) surged 9.5% following reporting Q4 earnings beating estimates. United Parcel Service (UPS:xnys) rose 4.6% on a 2023 business outlook largely in-line with expectations. Caterpillar (CAT:xnys) slid 3.5% after the construction and mining machine maker’s Q4 earnings missed expectations and said that sales in China will be softer in 2023. McDonald’s (MCD:xnys) declined 1.3% on weaknesses in Q4 as well as the 2023 operating margin outlook dragged by inflation pressure. Snap (SNAP:xnys) tumbled 14.4% in extended-hour trading following reporting Q4 revenue in-line with expectations and earnings beat but expecting a decline in revenues in Q1 this year, citing significant headwinds. Yields on US Treasuries (TLT:Xmas, IEF:xnas, SHY:xnas) 2bps to 4bps richer as the Employment Cost Index softened Bids came into the front end to the belly of the Treasury curve following the growth in the U.S. employment cost index, a preferred wage and benefit barometer of the Fed came in at 1% in Q4, below the 1.1% expected, and decelerated from 1.2% in Q3. The 5-year notes outperformed with a 5bp drop in yield to 3.62%. Yields on the 2-year and the 10-year were 3bps lower to 4.20% ad 3.51% respectively. Gabriel Rubin and Nick Timiraos of the Wall Street Journal suggested that the cooler worker compensation gains increased “the possibility of a pause in rate rises this spring”. Hong Kong’s Hang Seng (HIG3) and China’s CSI300 (03188:xhkg) extended decline Stocks in the Hong Kong and mainland bourses extended the decline from their recent highs on a risk-off day. After the strong gains in January on the positive development in the potential peaking of the exit wave of inflection in China, traders booked their profits ahead of the U.S. Fed’s rate decision as well as in response to fear about the risk of escalation of tension between the U.S. and China on the technology front.  In addition to the recent Politico story on the Biden administration’s plan to ban U.S. investments from investing in certain high-tech areas in China, Financial Times reported on Tuesday that the U.S. Commerce Department has stopped issuing licenses to companies seeking to export to China’s Huawei. Hang Seng Index and CSI 300 Index each fell by around 1%. Hang Seng Index was partly dragged down by Hang Lung Properties (00101:xhkg), which tumbled 5.3% following reporting underlying profit falling 3.8% Y/Y and below expectations. EV stocks advanced. BYD rose 2.3% after reporting a preliminary 2022 profit of RMB 6.7 – 7.7 billion which represents a 425% to 458% growth from a year earlier. Li Auto (02015:xhkg) climbed 1.5% following confirmation that its new EV model L5 would not be a SUV, implying less cannibalization of existing models. In A-shares, Chinese white liquor, food and beverage, semiconductors, pharmaceuticals, and electronics were the major laggards while property developers, petrochemicals, farming and fishery, and machinery stocks gained. FX: Dollar reversed gears to drop as Fed decision nears The dollar index made a further recovery to 102.60 on plunging German retail sales data, but the index slumped lower as US data including Fed’s preferred wage measure came in softer than expected. USDCAD hit a low of 1.3300 amid a rebound in WTI prices. EURUSD continues to struggle to break above 1.0900 ahead of EZ CPI and ECB decision due today. AUDUSD reversed the drop below 0.7000 after the plunge in AU retail sales, with metals gaining traction again. Crude oil (CLG3 & LCOH3) recovers ahead of Fed and OPEC Crude oil reversed the early drop from Tuesday as sentiment shifted amid signs of cooling inflation and wage pressures emerging from the US economic data (details below) ahead of the key Fed decision due today, and the US dollar slipped. Further, Exxon CEO post-earnings said he sees potential for continued tight global oil markets and tight supplies as some producers pull back. WTI rebounded back above $79 while Brent was above $85. Meanwhile, API inventory data for crude oil suggested another built of 6.3 million barrels, as stockpiles of gasoline and diesel also increased. Reports also suggested that OPEC is likely to maintain a cautious path on oil policy as it awaits clarity on China’s reopening. Gold (XAUUSD) finds support at $1900 Gold snapped a three-day downtrend with US employment cost index and consumer confidence data suggested that there remains scope for the Fed to slow its rate hikes. Lower US yields prompted interest in the yellow metal, reversing it from key support level of $1900 and it reached close to $1930, bringing the recent high of 1949 in focus again. The World Gold Council reported that gold demand reached a decade high in 2022 amid strong buying from central banks.  Read next: AUD/USD Pair Remains Under Strong Selling Pressure, The EUR/USD Pair Has Been Falling But Remains Above 1.08$| FXMAG.COM What to consider? Where has the most momentum been in markets and can it continue? It’s vital to reflect on the global equity markets rally in January  - and where momentum has been. In the US the Nasdaq gained 10%, the S&P500 5.6%, with EV names, Lucid and Tesla up 40-70% off their lows. In Europe the biggest 50 stocks (Stoxx 50) gained 10% with designers such as Hermes and LVMH providing the most heat, up 18% on expectations of higher earnings as China reopens. Australia’s ASX200 lifted 6.2% with lithium miners Sayona Mining and Pilbara Minerals up the most, 37-27%. Ultimately the Fed's decision in interest rates and it outcome this week, along with the ECB's put some of these companies on notice.  The Fed is expected to downshift again The expectations of a soft landing have picked up since the start of the year, relative to the rising recession bets seen in H2 of last year. Meanwhile, inflation has been on a steady downtrend in the last six months, which has allowed the Fed to downshift to a 50bps rate hike in December after a spate of rate hikes in 75bps increments before that. The consensus expects the FOMC will downshift again to lift its Federal Funds Rate target by 25bps to 4.50-4.75% on February 1, although some still expect the central bank to hike rates by a larger 50bps increment. Fed speakers have also broadly guided for a smaller hike at the next meeting. With economic data remaining volatile, there is some reason to believe that Powell and team may be aiming to lengthen the hiking cycle in order to buy more time to assess both the incoming data and the impact of their previous aggressive rate hikes. This warrants a smaller rate hike of 25bps at the February 1 decision. The key risk factor, favouring another 50bps rate hike, could be the financial conditions which are the easiest since April 2022 or the risks of another shoot higher in inflation due to China’s reopening and the resulting rise in commodity prices. Read our full preview here. US economic data still supporting a smaller rate hike The Fed’s preferred measure of wage gains, the employment cost index, slowed to 1% last quarter from +1.2% in Q3, coming in a notch softer than the expected at 1.1%. The fall was led by wages and salaries falling to +1.0% from +1.3%, while benefit costs fell to +0.8% from +1.0%. While the report signals that wage pressures may be easing and could mean that the Fed’s against inflation is working, more data will be needed to confirm the trend. Meanwhile, US consumer confidence in January dipped to 107.1, short of the expected 109.0 and the prior, revised higher, 109.0. The present situation index encouragingly rose to 150.9 (prev. 147.2), but the forward-looking expectations index declined to 77.8 (prev. 82.4). Chicago PMI slightly declined in January to 44.3 from 45.1, beneath the expected 45.0. Eurozone CPI on the radar today as the ECB meets With Spain and France’s inflation getting another bump higher in January, and Germany’s inflation release postponed to next week due to technical issues, jitters are running high for the Eurozone inflation print due today. More so, it comes a day ahead of ECB’s policy decision, where a 50bps rate hike in baked in with a small chance of a 75bps. Slowing energy and electricity prices mean that headline inflation can come in softer, but the focus will be on the core measure which is likely to remain firm. Bloomberg consensus expects the Eurozone headline inflation to slow to 8.9% in January from 9.2% in December, but the core measure at 5.1% from 5.2% previously. China’s PMI data bounced back to the expansionary territory; strong recovery in services China’s manufacturing PMI bounced back to 50.1 in January from 47.0 in December as economic activities have picked up as expected. The new orders sub-index jumped to 50.9 in January from 43.9 in December while the new export orders sub-index was below 50 for 21 consecutive months at 46.1, rising modestly from December’s 44.2. The improvement in employment was also lackluster, with the employment sub-index coming in at 47.4, staying in the contraction territory for 22 consecutive months.  Non-manufacturing PMI rose more strongly than expected to 54.4 in January from 41.6 in December. The brightest spot was the services sub-index which jumped to 54.0 in January from 39.4 in December, driven by the release of strong pent-up demand for in-person services, particularly dining, tourism, and entertainment. The construction sub-index improved to 56.4 from 54.4. Caixin China Manufacturing PMI is scheduled to release today Unlike the official NBS manufacturing PMI, the private Caixin China Manufacturing PMI which has a bigger representation of SMEs in the eastern coastal regions is however expected, according to the survey by Bloomberg, to improve only moderately to 49.8 and stay in the contractionary territory in January from 49.0 in December. IMF upgrades global growth; expects China to grow at 5.2% in 2023 and 4.5% in 2024 In its World Economic Outlook Update released yesterday, the IMF has marginally increased its global growth forecast for 2023 to 2.9% from 2.7% previously. Meanwhile, the IMF expects China’s real GDP growth to be at 5.2% in 2023 and then to fall to 4.5% in 2024. The medium-term growth rate in China is expected to settle at below 4% due to “declining business dynamism and slow progress on structural reform”. Australian full year earnings season kicks off; will mining companies deliver triple digit growth   February is an important time of year with full earnings season kicking off. ASX200 companies will report their 2022 profits and earnings, and guide for 2023, which could set the course for equites for the next few months. A company’s shares will generally do well if the company reports a better than expected outlook and results, and inversely their shares will typically sink if they disappoint. That said, the most earnings growth is expected to come from the Mining sector with well over 100% earnings growth (consensus); with gold and lithium companies are expected to outperform. BHP as an example, could report 17% dividend growth and it could give a rosy outlook after kicking off coal exports to China for the first time in two years. Energy companies are expected to report a 30% earnings jump and 300% revenue growth. For a list of stocks and inspiration refer to the Australia Resources basket. Today, Credit Corp reports results, Pinnacle on Thursday, NewsCorp Friday. In the third week of February the season ramps up with CBA and Fortescue reporting Feb 15, on Feb 21, BHP reports, with Rio the next day, followed by Qantas. Mixed messages for the Australian dollar; Coal cargoes head to China, but retail sales slump and borrowing disappoints With commodity prices falling across the board from their highs, the Australian dollar continued its 3-day pull back, falling below the 200-day moving average. Adding to the bearish short-term picture, weaker than expected Australian retail trade was released for December (with sales down 3.9%), while weaker than forecast borrowing data also added to Aussie woes. On the positive side, Australia sent two cargos of metallurgical coal to China’s steel production centre, officially marking the end of China’s two-year Australian coal ban. Earlier this month BHP struck the deal with China Baowu Steel. So although the RBA could potentially pause rate hikes sooner, longer term upside could be underpinned by Aussie commodity demand. We continue to monitor short term risks, for the Aussie, especially if the USD thunders up ahead and after the Fed meeting, while further commodity price weakness could also pull the Aussie down. Meta’s Q4 may help investors gauge the health of digital advertising While the importance of Meta Platforms (META:xnas) to the market has declined substantially over the past year, investors and traders have their eyes on the social platform’s Q4 results and outlook for 2023, to be released on Wednesday, to provide an early glimpse to the state of health of the digital adverting before the Q4 results from the heavy-weight Alphabet (GOOGL:xnas) on Thursday. The weakness in the guidance from Snap on Tuesday added to investors’ concerns about softening digital advertising amid macro headwinds. For what is ahead at markets this week – Read/listen to our Saxo Spotlight. For a global look at markets – tune into our Podcast. Source: Market Insights Today: Easing US wage pressures; Fed decision eyed – 1 February 2023 | Saxo Group (home.saxo)
Kiwi Faces Depreciation Pressure: RBNZ Expected to Hold Rates Amidst Downward Momentum

The ECB And The Bank Of England Are Both Expected To Raise The Interest Rates By 50bp

Swissquote Bank Swissquote Bank 02.02.2023 10:33
It is gratifying to see the disinflationary process now getting underway’ said the Federal Reserve (Fed) President Jerome Powell at his press conference yesterday. ‘Disinflation process is getting underway’. Stock market That was the major - and the only take - of his speech yesterday, and sent the markets rallying. The US yields fell, the S&P500 reversed course and rallied more than 1% higher, while Nasdaq jumped more than 2%. The dollar index slumped. Fed At the wake of the meeting, activity on Fed funds futures gives around 83% chance for the next FOMC meeting to deliver another 25bp hike, which would take the rates to 5% mark, as promised by Fed members. And for equities, there is no reason to think that the bullish sentiment would reverse anytime soon. What else? Apple, Amazon, Google, Ford and Qualcomm are due to announce their earnings today. The European Central Bank (ECB) and the Bank of England (BoE) are both expected to raise the interest rates by 50bp today But it won’t be the same 50bp hike. Watch the full episode to find out more! 0:00 Intro 0:31 One phrase: ‘disinflationary process is underway’ 4:31 Facebook’s Meta pops 20% after earnings 6:33 ECB to hike by 50bp 8:17 BoE to hike by 50bp, as well, but… Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #ECB #BoE #Fed #FOMC #meeting #Powell #disinflation #Meta #Apple #Google #Amazon #Ford #Qualcomm #earnings #USD #EUR #GBP #FTSE #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
TikTok Bans Are Gathering Momentum In The US

Facebook’s Best Rally In Almost A Decade, BoE’s Tightening Cycle May End Soon

Swissquote Bank Swissquote Bank 03.02.2023 10:19
Yesterday was, again, a fantastic day of trading for equities, as the less hawkish than expected tone from the European Central Bank (ECB) and the Bank of England (BoE) meetings joined the optimistic vibes from the Federal Reserve (Fed) Chair Jerome Powell’s ‘disinflationary process’ mention a day before, and all that combined with Facebook’s best rally in almost a decade painted the market in the green. S&P500 The S&P500 gained around 1.50%. Nasdaq 100 jumped more than 3.5% and entered bull market as Meta jumped more than 23%. Earnings But today will probably not be as fantastic as yesterday, as Apple, Amazon and Google announced earnings after the bell yesterday, and they all disappointed. US jobs data Maybe, the again-important US jobs data could temper the earnings-triggered weakness – if of course the NFP number, and more importantly the wages growth are sufficiently soft to keep the Fed doves in charge of the market. Rates Elsewhere, the European Central Bank (ECB) and the Bank of England (BoE) raised their rates by 50bp yesterday, but Lagarde sounded much less aggressive than the December meeting. Read next: USD/JPY Pair Is Trading At 128.48 The Aussie Pair Is Above 0.71$| FXMAG.COM Euro The EURUSD sold off. But I believe that the euro’s recovery hasn’t ended just yet, as we see the end of the tunnel for the Fed – as the Fed rates approach the 5% mark, while we don’t yet see the end of the tightening tunnel for the ECB. Watch the full episode to find out more and find the link to our latest blog article : www.swissquote.com/blog 0:00 Intro 0:50 Stocks rally on dovish central bank expectations, and Facebook… 2:10 … but Apple, Amazon and Google dampen the mood. 5:38 What kind of US jobs data could cheer up investors? 6:42 BoE’s tightening cycle may end soon 8:21 ECB’s Lagarde sounded less aggressive than last December, but euro should do fine… Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #NFP #wages #jobs #data #ECB #BoE #Fed #FOMC #meeting #Powell #disinflation #Meta #Apple #Google #Amazon #earnings #USD #EUR #GBP #Bailey #Lagarde #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH      
DPX Token Registered A 24-Hour Return Of 11.11%

The US Judge Denied The FTC's Request, Giving The Meta An Important Victory

Kamila Szypuła Kamila Szypuła 06.02.2023 10:44
U.S. District Judge Edward Davila in San Jose, California, ruled on the application last Tuesday, but did not make his decision public at the time. People familiar with the verdict told The Wall Street Journal that the judge denied the FTC's request, giving the Meta and its chief executive Mark Zuckerberg an important victory. Court ruling The FTC sought an injunction blocking Meta from buying Within, which makes a popular virtual reality fitness app called Supernatural, arguing that the deal would weaken competition. By court decision, Meta Platforms got permission to acquire a virtual reality start-up. The ruling, which was initially sealed and released late Friday, rejected the FTC's arguments as to why Meta's acquisition of Within Unlimited was anti-competitive. But the judge sided with the FTC on some legal and factual arguments. Judge Davil's now public ruling is based on the finding that Meta would have difficulty competing with Within. Although the judge allowed the deal, he ruled in favor of the FTC on certain points of law and fact. Judge Davila agreed with the FTC that virtual reality fitness products are a separate market. A Meta spokesperson said the company was pleased with the ruling and looked forward to closing the Within deal quickly. Important transaction Meta has long been a dominant player in the virtual reality space, and Meta has long been a dominant player in the virtual reality space. While Within is a relatively small company, the deal was seen as important to Mr. Zuckerberg's strategy of focusing on metaverses or virtual worlds, leading to Facebook's rebranding to Meta in October 2021. Read next: Elon Musk Was Found Not Guilty In The Tweets Case| FXMAG.COM FTC vs. Meta The Federal Trade Commission sought to block Meta Platforms Inc from acquiring Within Unlimited Inc. and its dedicated virtual reality fitness app, Supernatural. In July, when the FTC sued to block the Within deal, it accused Meta of trying to buy its way to the top of the virtual reality fitness market rather than competing on merit. According to the FTC, Meta is already a key player at every level of the virtual reality sector.The FTC claims that Meta and CEO Mark Zuckerberg plan to expand Meta's virtual reality empire by acquiring fitness apps, which would reduce competition in the market and violate antitrust laws. A December trial to decide if Meta could go forward with the relatively small deal was seen as a test of the FTC's bid to head off what it sees as a repeat of the company acquiring small upcoming would-be rivals to dominate a market, this time in the nascent virtual and augmented reality markets. The FTC may still challenge the Meta-Within Transaction by filing an appeal with the Ninth Circuit Court of Appeals or through administrative proceedings before the FTC's internal tribunal. Meta shere price The new year is favorable for Meta shares so far. Since the last week of trading in 2022, the stock has been on the rise, bouncing off levels below 100. Meta shares surged to 188.77 in February, but recently fell to 185.19. Despite the decline, Meta shares remain at high levels that were last seen more than half a year ago. Source: wsj.com, finance.yahoo.com
The Most Sold Company Turned Out To Be  Microsoft

The Most Sold Company Turned Out To Be Microsoft

Conotoxia Comments Conotoxia Comments 16.02.2023 13:31
And we've got it! 77 Q4 2022 held investment reports from superinvestor funds. What did the best of the best in this market invest in and walk away from, and what can we learn from this?  First, the highlights The 13F report is a form that investment funds in the United States must file if they control or manage assets of $100 million or more. Form 13F contains information about investments in individual listed companies, including the number of shares and the value of those investments at the end of each quarter. This information is publicly available. The most frequently held companies currently in superinvestors' portfolios are: Google (Alphabet) - as many as 31 times, Microsoft (Microsoft) - 30 times, Meta Platforms (Facebook) - 25 times, Amazon.com (Amazon) - 24 times and Visa (Visa) - 24 times. We have already had the opportunity to discuss the portfolios of George Soros and Warren Buffett. This time, however, let us look at their activities collectively. The most frequently bought companies By far the most frequently bought company was e-commerse giant Amazon.com (Amazon), which was snapped up by as many as 15 super-investors. This seems interesting particularly given the problems of the consumer goods sector, which seems to be particularly negatively affected by the economic slowdown and high interest rates. Amazon currently accounts for 1.62 per cent in the value of all superinvestor portfolios. Source: Conotoxia MT5, Amazon, Daily The second most bought company was technology giant Meta Platforms (Facebook), which was acquired by as many as 13 super-investors in Q4 2022. Following problems with its - seemingly misguided - investment of more than $13 billion in the Metaverse, the company announced a 13 per cent job cut. The cost reduction may have improved investor sentiment, as the company's shares, after falling as much as 78 per cent, have now rebounded 122 per cent from the bottom. Meta accounts for 1.31 per cent of the value of all superinvestors' portfolios. Source: Conotoxia MT5, Facebook, Daily The third most bought company was another tech giant that has recently become famous for its investment in artificial intelligence - Microsoft (Microsoft). It was bought by as many as 11 of the super-investors. The company is now the largest position among all funds, accounting for as much as 2.36 per cent of their portfolios. Source: Conotoxia MT5, Microsoft, Daily In fourth place was Microsoft's biggest competitor, Google (Alphabet), which appears to be focusing on creating a tool such as ChatGPT. The company was bought by nine super-investors in the last quarter of last year, and its shares accounted for 1.52 per cent of the value of funds' portfolios. Source: Conotoxia MT5, alphabet, Daily The most sold companies Interestingly, the most sold company turned out to be the previously mentioned Microsoft. It was sold by 14 super-investors. The largest buyer was Daniel Loeb (Third Point fund), who increased the company's stake by 4.75 per cent of his portfolio, and the largest seller was John Armitage (Egerton Capital fund), reducing the company's stake by 5 per cent of his portfolio. Ex aequo with Microsoft was the world's largest payment service provider, Visa (Visa), also sold by 14 super-investors, with only four of them buying its shares. Viking Global Investors fund bought the largest stake, accounting for 0.46 per cent of its portfolio value, while Lee Ainsile (Maveric Capital fund) opted for the largest sale with 1.32 per cent of its portfolio value. It appears that the reluctance to buy the company may be linked to expectations of reduced consumer activity in the coming quarters. Source: Conotoxia MT5, Visa, Daily In third place were Google shares sold by 12 of the super investors. China's Li Lu (Himalaya Capital Management fund) seems to be by far the most optimistic about the company's future. He increased the company's stake by as much as 7.3 per cent of the value of his portfolio. The biggest pessimist, on the other hand, was Josh Tarasoff from the Greenlea Lane Capital fund. He reduced his position in the company by 2.2 per cent of the value of his portfolio. What conclusions can we draw from this? Based on the investments of all super investors, it is therefore difficult to identify the best and worst assets. This may be due to the fundamental issue of different investment styles and strategies. Therefore, drawing conclusions from the investments undertaken should be preceded by an understanding of the style of the fund in question and its assumptions for entering and exiting positions. Grzegorz Dróżdż, Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
RBA Governor Announces Major Changes at RBA Board as US Inflation Expected to Decline

Meta Introduces Paid Verification Subscription Service

Kamila Szypuła Kamila Szypuła 19.02.2023 19:46
Updates and changes on social platforms are nothing new, but when a paid feature comes along, it raises a lot of excitement. And so it may be this time when it comes to Meta. In this article: Chinese banking system A new paid verification subscription service FTX.US supported the policy Global economy Chinese banking system China's Banking and Insurance Regulatory Commission and the People's Bank of China jointly released revised draft legislation on Saturday to help banks. The draft regulations, which bring the banking sector closer to global standards, will divide lenders into three groups depending on the scale of business and the level of risk. The rules will apply to banks in a diverse regulatory regime. In addition, the rules will include more detailed factors to measure banks' exposure to mortgage risk, such as property types, repayment sources and loan-to-collateral ratios. Both regulators stated that the implementation of the new rules will leave the capital adequacy ratios in the banking sector generally unchanged. China refines capital and risk management of commercial banks https://t.co/nqftiLkYb9 pic.twitter.com/xO57Z9V6Wc — Reuters Business (@ReutersBiz) February 19, 2023 A new paid verification subscription service Meta introduces a new paid verification subscription service called Meta Verified, CEO Mark Zuckerberg has announced. For $11.99/month on the web and $14.99/month on iOS, Instagram and Facebook Meta users will be able to submit their government ID and receive a blue verification badge. The service will roll out in Australia and New Zealand this week. In the past, Meta has vetted high-profile users such as politicians, executives, members of the press, and organizations to signal legitimacy. The company's new subscription service is similar to Twitter's revamped service called Twitter Blue, which also provides users with a verification badge if they pay a monthly fee. Meta is rolling out a new paid verification subscription service for Instagram and Facebook users https://t.co/Omc8fFNzO4 — CNBC (@CNBC) February 19, 2023 FTX.US supported the policy According to data from OpenSecrets.org, among the top 10 organizations supporting political campaigns in the US in 2022, FTX.US ranked third. Of the three former FTX directors, 67% of the contributions went to Democratic parties, candidates and liberal groups. The year before FTX collapsed, former FTX CEO Sam Bankman-Fried donated at least $46.4 million to political groups. Despite FTX's announcement in December 2022 of withdrawing donations, the growing influence of cryptocurrency executives on U.S. politics is evident as digital assets become more mainstream and politically significant. 1/ https://t.co/RgAGJ58UgP was ranked 3rd among the top 10 organizational contributors to political campaigns in the US in 2022 🇺🇸Read the full study: https://t.co/APy0C8yiAw pic.twitter.com/n8ebjvlwx4 — CoinGecko (@coingecko) February 19, 2023 Global economy The global economy is expected to slow down this year, only to pick up again next year. Growth will remain weak by historical standards as the fight against inflation and Russia's war in Ukraine take a toll on activity. Growth proved surprisingly resilient in the third quarter of last year, with strong labor markets, solid household consumption and business investment, and a better-than-expected adaptation to Europe's energy crisis. Elsewhere, China's sudden reopening paves the way for a rapid recovery in activity. The outlook for 2023 has improved, but the road back to full recovery, with sustainable growth, stable prices and progress for all, is just beginning. Want to know what's next for the global economy? Watch our Charts in Motion or check out our blog post. https://t.co/0f3Ps3RYzr pic.twitter.com/h5NJyepNZx — IMF (@IMFNews) February 19, 2023
RBA Governor Announces Major Changes at RBA Board as US Inflation Expected to Decline

Meta Is Announcing A New Monthly Subscription Model, Deere Was The Star Performer In The S&P500

Saxo Bank Saxo Bank 20.02.2023 09:33
Summary:  US equity markets bounced on Friday after teasing new lows, maintaining the sense of indecision after more than two weeks of choppy, directionless trading. Treasury yields and the US dollar rolled over sharply on Friday after posting new highs for the cycle and stern US warnings to China against providing military aid to Russia have upped the geopolitical risks by an order of magnitude as markets will nervously await China’s response in coming days and weeks. What is our trading focus? US equities (US500.I and USNAS100.I): gains for February have evaporated Friday’s session was weak ending with the lowest close print for February as the market reacted to higher interest rates and data suggesting inflation pressures remain high. Last week, was still a strong week for bubble stock despite the rising interest rates while commodity related companies and Chinese stocks were the weakest links in the global equity market. S&P 500 futures have opened up this week below Friday’s close trading around the 4,085 level with the key 4,000 level still in play on the downside if S&P 500 futures make another lower close in today’s session. Hong Kong’s Hang Seng (HIG3) and China’s CSI300 (03188:xhkg) rallied with A-shares leading China’s A-shares rallied strongly on Monday with the benchmark CSI300 rising 2.3%. Although the 1-year and 5-year loan prime rates remained unchanged at the monthly fixing this morning, the average mortgage interest in the largest 100 cities fell 6bps M/M to 4.04% in February, or 143bps Y/Y for first-home mortgages and 84bps for second-home mortgages.  Construction materials, electronic appliances and telco names led the charge higher in A-shares. Hong Kong’s Hang Seng Index opened lower but spent the rest of the day climbing to 1.1% higher as of writing. China Hongqiao (01378:xhkg), a leading aluminium products manufacturer, jumped over 10%. FX: Dollar reverses lower on sentiment shift Friday, NZD in focus as RBNZ meets this week After a run higher last week on rising US treasury yields and Fed rate hike expectations, the US dollar was off its highs on Friday with US 10-year yields turning lower after trading close to the key 4% mark. This helped USDJPY retreat from 2-month highs above 135. Note Japan set to report CPI this Friday and BOJ governor nominee Ueda’s parliamentary hearings will likely keep the yen volatile. NZD was one of the underperformers last week on slowing 2yr NZ inflation expectations, and remains in focus this week as RBNZ is likely to downshift to a 50bps rate hike with some even considering a 25bps hike amid risks from the recent cyclone. GBPUSD touched lows of 1.1915 last week but was back above 1.2000 handle on Friday. ECB commentary remains mixed (read below) and EURUSD still close to 1.07. Crude oil (CLH3 & LCOJ3) remains rangebound Crude oil rebounded during Asian hours following last week’s selloff which once again confirmed the market remains rangebound, in Brent between $80 and $89, with a demand pick up in China at this stage not being strong enough to offset macroeconomic concerns that was strengthened last week following hawkish comments from US Federal Reserve members. OPEC and IEA raised the medium-term demand outlook but so far, data from China shows a meagre pickup in economic activity, and it has instead left the market focusing on US stock levels which have been rising well beyond seasonal expectations. This week’s focus will also be on geopolitics (read below) with US-China tensions ramping up and the one-year anniversary of Russia’s invasion of Ukraine. Copper focusing on supply-side issues Despite the hawkish tilt in Fed expectations, copper ended the week only down 0.4% as the key $4 area continued to provide support. Supply issues also remained in focus. Freeport-McMoRan Inc suspended operations at its Grasberg copper mine in Indonesia due to landslides. This is on the heels of disruptions to output in Peru amid social unrest and Panama. Zambia also reported that its copper output fell to a seven-year low in 2022. Some support also coming through via rising aluminum prices after smelters in China’s Yunnan province cut capacity due to energy shortages following a period of weak hydro generation. Gold (XAUUSD) focus on dollar and interest rate trajectory Gold traded steady in Asia near short-term resistance at $1845, after managing to find a bid on Friday following weak of rising dollar and yields-led selling. An uptick in geopolitical tensions potentially adding a small bid into a market that otherwise seems preoccupied with the scope for further interest-rate hikes from the Federal Reserve. Investor sentiment has once again been challenged with bullion-backed ETF holdings falling to a fresh three-year low on Friday while open interest in COMEX gold futures has fallen by 16% during the past month as traders cut their exposure, both long and short. Further dollar-led weakness could see gold target support in the $1792 to $1776 area with resistance at $1872. Yields on US Treasuries (TLT:Xmas, IEF:xnas, SHY:xnas) reverse lower Friday ahead of long weekend After US Treasury yields all along the yield curve posted local highs for the cycle, a late wave of buying reversed the slide and yields closed lower for the session, with the 2-year closing at 4.62% after hitting 4.71% intraday and the 10-year retreating to close at 3.81% after hitting 3.92% earlier in the session. Today, US treasury markets are closed for a holiday. Heavy treasury supply is incoming this week with 2-year, 5-year and 7-year auctions Tuesday through Thursday. The US data highlight this week is Friday’s January PCE inflation data. What is going on? US Secretary of State Blinken warns China on lethal aid to Russia At the sidelines of the Munich Security Conference, US Secretary of State Antony Blinken warned of “serious consequences” if China were to provide military support to Russia. Blinken suggested that the US has information that China may be considering supplying arms to Russia. China’s top diplomat Wang Yi spoke earlier in the day at the same conference on the US’ “hysterical” response to charges of Chinese spy balloons. Yi will travel to Italy, Germany, and Hungary and make a final stop in Russia. Putin will also be giving a state of the nation address, and focus will be on any risks of further escalation noting that 500k Russian troops have been mobilised. US President Biden will be visiting NATO ally Poland to talk about the importance of the international community’s resolve, and unity in supporting Ukraine, adding that the next weeks and months are going to be difficult for Ukraine’s forces, and the US is going to continue to stand by them. Saxo’s Defense equity theme baskets was one of the top performers last week despite the news of China sanctions on US defense companies like Lockheed Martin and Raytheon due to balloon shooting incident. Meta launches monthly subscriptions Snap already has it and Twitter is rolling it out, and now Meta is announcing a new monthly subscription model to create a new revenue stream that is more stable that online advertising. The monthly subscription comes with extended account verification, direct customer support, and more protection against impersonation. Apple’s major data privacy change back in late 2021 has been a major factor as well as targeting has become more difficult putting downward pressure on advertising pricing. Luxury stocks are the key contributors to the French CAC 40 index’s 2023 performance The French CAC 40 index is recording a strong YTD performance with an increase of +14 %. This is partially explained by the weight of luxury stocks in the index. Kering, L’Oréal, LVMH and Hermès represent about a third of the jump. Other major contributors are: Schneider Electric (which directly benefits from China’s economic reopening), BNP Paribas, Vinci (a construction company and operator of toll roads), STMicroelectronics (semiconductors) and Air Liquide (which can be considered as a market maker in his business segment). The French index is now valued at less than 13 times the estimated profits. This is below its 10-year average of 14. This could imply the market can go much higher in the short- and medium-term. The French stock market is the largest one in Europe followed by the UK’s. Key US stocks on the move Friday, including Lithium names On Friday, US farm equipment maker Deere (DE:xnys) led market gainers, posting a 7.5% advance. Moderna Inc (MRNA:xnas) fell 3.3% after its experimental messenger RNA-based influenza vaccine delivered mixed results in a study. Lithium miners Livent Corp (LTHM:xnys), Albemarle Corp (ALB:xnys) and Piedmont Lithium (PLL:xnas) slumped between 9% and 12% due to concerns about weakness in Chinese prices for the EV battery metal. ECB’s mixed messages ECB speakers had mixed messages on Friday with the hawkish Isabel Schnabel saying that investors risk underestimating the persistence of inflation. That bolstered rate-hike bets, with money markets pricing a 3.75% peak in the deposit rate. However, later dovish member Francois Villeroy said that rates are now in restrictive territory and that they may raise above 3% but it’s not automatic. The German 2-year Schatz yield posted a new high since 2008 at 2.95% on Friday before falling back and closing unchanged at 2.88%. Deere lifts outlook on strong outlook for agricultural spending Deere was the star performer in the S&P500 on Friday, rising 7.5% after raising its forecasts for the year - and reporting better than expected Q4 results. It reported EPS of $6.55 vs est. $5.56 and revenue of $12.7bn vs est. $11-3bn. The bottom line is demand from farmers is strong, and producers are prepared to buy more equipment and upgrade their fleets. Its production and precision agricultural division which includes autonomous crop planting and harvesting – saw the most sales growth – with quarterly sales up 55% y/y. Deere raised its net income outlook to $8.75-9.25bn compared to previously $8-8.5bn. This reinforces Saxo’s bullish view of investments in the physical world outperforming the intangibles. Sweden CPI jumps more than expected at core – SEK surges Sweden reported January CPI data this morning, with the headline slightly softer than expected at –1.1% MoM and +11.7% YoY vs. -1.0%/+11.8% expected, but the core inflation data was firmer than expected at +0.4% MoM and +8.7% YoY vs. -0.2%/+8.2% expected and 8.4% in December. SEK is surging on the anticipation that the Riksbank will have to continue firming its message on tightening policy. What are we watching next? Critical week for geopolitics as we await China’s response to US warnings on aiding Russia US Secretary of State Blinken’s warning to China on aiding Russia’s military (see above) sets up a moment of maximum danger for geopolitics depending on the nature of China’s response in coming days and weeks. Should the latter move to aid Russia’s military with lethal weaponry, it will likely accelerate the deglobalization theme and US sanctions against the country, creating significant disruption risks for global supply chains. The CFTC will start publishing delayed CoT reports this week Last Friday the CFTC once again postponed its weekly publications of the Commitments of Traders report (CoT), bringing the number of weekly reports to three that has been delayed due to the January cyber-related incident at ION Cleared Derivatives, a third-party service provider of cleared derivatives order management, order execution, trading, and trade processing. The CFTC in a statement on Friday, however said that staff intends to resume publishing the CoT report this Friday, starting with the report that was due February 3 but also that they do not expect the backlog will be cleared and “live” data resume until mid-March. BHP and Rio Tinto earnings will set the course for copper and aluminium companies  BHP and Rio Tinto report this week and, if Fortescue is something to go by with stronger than expected profits, then BHP and Rio could surprise to the upside. The focus will be on their outlooks with both BHP and Rio expected to give optimistic forecasts for the year amid Chinese demand picking up. They may also shed light inflationary pressures remaining sticky, such as wages picking up. Iron ore, and copper and coal giant BHP is expected report 2022 earnings (EBITDA) of $40.6 billion, with free cashflows of $26 billion and declare a full-year gross dividend yield of 14%. Iron ore, aluminium and copper giant Rio is expected to report earnings (EBITDA) of $27.1 billion in 2022, free cash flow of $11.2 billion and declare a full-year gross dividend yield of about 11%. Saxo’s preferred commodity exposures include aluminium, copper, and lithium. Earnings to watch Today’s earnings focus is later tonight when BHP Group reports FY23 1H results (ending 31 Jan) with analysts expecting revenue of $26.7bn down 13% y/y from the same period last year. EPS is expected at $1.37 down 28% y/y as iron ore prices have come down their recent highs. The commodity markets have been very muted in their reaction to the Chinese reopening and as such BHP Group’s outlook will be of key interest to investors. Later this week our earnings focus is one Walmart, Home Depot, and Nvidia. Monday: BHP Group, Williams Cos Tuesday: Teck Resources, Gapgemini, Engie, HSBC, Walmart, Home Depot, Medtronic, Palo Alto Networks Wednesday: Rio Tinto, Genmab, Danone, Lloyds Banking Group, Iberdrola, Nvidia, TJX, Stellantis, Baidu, eBay Thursday: EssilorLuxottica, Deutsche Telekom, Munich Re, Kuaishou Technology, Eni, Anglo American, BAE Systems Friday: BASF, Monster Beverage Economic calendar highlights for today (times GMT) US markets closed for Presidents’ Day. 0830 – Sweden Riksbank Meeting Minutes 1500 – Eurozone Feb. Preliminary Consumer Confidence 1900 – UK Bank of England’s Woods to speak 0030 – Australia RBA Meeting Minutes   Source: Financial Markets Today: Quick Take – February 20, 2023 | Saxo Group (home.saxo)
Nasdaq 100 posted a new one year high. S&P 500 ended the day unchanged

Chinese equities rally, Meta announced a plan to roll out paid subscriptions

Swissquote Bank Swissquote Bank 21.02.2023 10:30
Chinese equities were boosted on Monday by a report from Goldman Sachs predicting that the MSCI China index could rally as much as 24% by the end of the year. BHP And mining stocks hope they are right because BHP announced a 32% drop in half-year profit as a result of rising costs and soft commodity prices, mostly hit by subdued activity in China. However, rising commodity prices is a scenario of catastrophe for global inflation, and the central bank expectations. The RBA The latest minutes from the Reserve Bank of Australia (RBA) showed that the Australian policymakers considered a 50bp hike at the latest meeting, before agreeing on a 25bp hike. Oil For now, though, oil bears defy all news of Chinese reopening. Yesterday’s rebound in US crude remained capped into the 50-DMA, a touch below the $78pb mark. Meta In the corporate space, Facebook’s Meta announced a plan to roll out paid subscriptions to compensate for the revenue loss from advertisements – which topped $10 billion last year after Apple changed its security settings. Read next: USD/JPY Pair Is Above 134.00, EUR/USD Pair Holds Below 1.07, GBP/USD Pair Managed To Rebound| FXMAG.COM The latter could give some boost to the revenues in the short run but it’s certainly a sign that Facebook is running out of ideas, and that’s not good for the longer-run perspective! Watch the full episode to find out more! 0:00 Intro 0:42 Chinese equities rally as Goldman predicts 24% rally this year 3:16 BHP hopes Chinese reopening will boost energy, commodity prices 4:02 But higher energy prices is bad news for most stocks 4:22 … and for central bank doves! 5:26 BoFA & JP Morgan bet against European stocks 6:38 Meta is like watching trainwreck in slow motion Ipek Ozkardeskaya  Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Facebook #Instagram #Meta #verified #account #China #stock #rally #commodity #energy #prices #crude #oil #BHP #earnings #inflation #RBA #Fed #expectations #AUD #USD #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
Stolen Goods End Up On Amazon, Ebay And Facebook Marketplace

Stolen Goods End Up On Amazon, Ebay And Facebook Marketplace

Kamila Szypuła Kamila Szypuła 26.02.2023 18:29
The Internet offers many possibilities. Also, people who want to run illegal activities have an ideal place to do so. In this article: Warren Buffett and his annual letter Ease of selling stolen items Latin America Warren Buffett and his annual letter In his annual letter to Berkshire shareholders, the 92-year-old Buffett urged investors to focus on the big picture over the long term, rather than higher inflation and other factors. Billionaire investor Warren Buffett signaled on Saturday that he has not lost lasting confidence in the US economy and his company Berkshire Hathaway Inc. Buffett called 2022 a "good year" for Berkshire, with many of its strongest companies holding up to the pressures of heightened inflation, rising interest rates and supply chain disruptions. Billionaire investor Warren Buffett in his annual letter to shareholders urged investors to focus on the big picture over the long term, and pushed back on critics of stock buybacks. Read more https://t.co/SdVLJpK7wY pic.twitter.com/iAllyjuGFD — Reuters Business (@ReutersBiz) February 26, 2023 Read next: Forex Weekly Summary: EUR/USD Ended The Week Below 1.06 And GBP/USD Below 1.20, USD/JPY Ended The Week Higher Above 136.00| FXMAG.COM Ease of selling stolen items Over the past year, large-scale robberies have occurred at stores such as Louis Vuitton in San Francisco's Union Square and at nearby Nordstrom, which was robbed by 80 people. Law enforcement and retailers are warning the public that this is not traditional shoplifting. What they see is rather theft organized by criminal networks. Retailers say $68.9 billion worth of products were stolen in 2019. In 2020, three-quarters reported an increase in organized crime, and more than half reported cargo theft. Some major chains blame organized theft for recent store closures or their decisions to reduce opening hours. Amazon, eBay and Facebook are where these stolen goods are sold, with critics saying they are not doing enough to put an end to the business. The companies disagree. For example, Amazon says it has spent over $900 million and hired over 12,000 people in 2021 to prevent fraud and abuse. The company also says it requests "proofs of origin" when it has concerns about how products are sourced and works with authorities to eliminate illegal activity. Getting started selling on Facebook Marketplace is relatively simple. Although it is against its policy to sell stolen goods, Meta typically does not require proof of identity other than a basic name and a verifiable email address or phone number needed to open a Facebook account. How do stolen goods end up on Amazon, eBay and Facebook Marketplace? Watch the video to learn more and what the online marketplaces are doing to stop the sale of stolen products. https://t.co/oKgoSe6UJ4 pic.twitter.com/sC975Kpsdf — CNBC (@CNBC) February 26, 2023 Latin America Latin American economies performed well last year despite the upheavals caused by Russia's invasion of Ukraine and global interest rate hikes. In 2022, the region's economy grew by nearly 4%. Despite this encouraging news on economic growth and inflation, 2023 is likely to be a challenging year for the region. Growth this year is expected to slow to just 2 percent, with higher interest rates and falling commodity prices. Latin America's economy expanded by nearly 4% in 2022, employment recovered strongly, and the service sector rebounded from the damage caused by the pandemic. More on #IMFBlog: https://t.co/iFCzzU0810 pic.twitter.com/OWf2T8Qvh7 — IMF (@IMFNews) February 26, 2023
TikTok Bans Are Gathering Momentum In The US

Twitter Employees Are Overburdened As Elon Musk Tries To Run Twitter With Fewer Staff

Kamila Szypuła Kamila Szypuła 02.03.2023 10:30
Across the tech industry and many other companies, companies are trying to do more with less. Tech companies that have laid off recently include Google Alphabet Inc., Meta Platforms Inc. and Salesforce Inc. More layoffs Elon Musk tries to run Twitter Inc. with fewer and fewer staff the company handled when it took over. Silicon Valley is watching to see if he succeeds. Twitter's staff fell to around 2,000 from close to 8,000. It carried out more layoffs over the weekend. There is a difference between running Twitter with 2,000 people now and running it with 2,000 people in 2013 or earlier, said Jason Goldman, one of Twitter's early executives who served on its board from 2007 to 2010. Some of the bigger tech giants have cut more jobs in terms of total numbers, but Twitter's cuts, as a percentage of staff, are staggering by comparison. Twitter's workforce is the smallest in a decade and below the 2,712 employees it had in 2013 when it went public. Other employees said they were trying to replace laid-off colleagues and were tasked with working on aspects of the platform they had never done before, as their colleagues who knew the tools well were no longer with the company. As a result, they said, it's harder to troubleshoot technical issues when they arise. Financially loss-making Twitter reported a net loss of $221.4 million in 2021, the last full year it publicly reported financial results before going private. Musk said he believes Twitter will break even this year. Slack issues For many employees, a confusing moment came last week when employees said they were unexpectedly logged out of the Slack workplace messaging tool. Staff was informed that Slack was down for maintenance. Losing Slack is a significant hit to productivity, said one employee. One employee said it was frustrating as searching through old Slack messages was a way to find answers to technical issues, especially after so many engineers left and weren't around to help. Twitter informed employees on Monday that maintenance had been completed and Slack would be restored. History of technical errors The social media company has a history of technical glitches that preceded Musk's acquisition. Almost three years ago, it was hit by an attack that allowed hackers to take over a number of accounts, including those of celebrities, politicians and billionaires. A year earlier, the account of Twitter co-founder and then CEO Jack Dorsey had been hacked to send misguided and racist tweets. Recently, many Twitter users were unable to access the social media platform for about two hours. The company did not immediately respond to a request for comment on the matter. This followed an incident three weeks ago when users were unable to tweet and glitches during the Super Bowl halftime. Current and former Twitter engineers say the continued operation of the platform is at least partly a testament to years of prior engineering work. Read next: Euro Is Rising, USD/JPY Falls Below 136.00, The Aussie Pair Also Gains| FXMAG.COM Twitter share price Twitter's last stock quote was at 53.70 SpaceX On the other hand, from other Elon Musk companies SpaceX launched a crew to the International Space Station early Thursday, a mission make-up flight that the company and NASA scrubbed off earlier this week due to a technical problem. SpaceX and NASA canceled the launch attempt on Monday shortly before the flight was scheduled to begin. On Wednesday, the space agency said a clogged filter caused a problem that led to the flight being postponed. The latest mission launched just after 12:30 p.m. EST Thursday, when the company's rocket blasted off from the Kennedy Space Center. Kennedy, Florida, according to a NASA live broadcast. Source: wsj.com, finance.yahoo.com
European Markets Await Central Bank Meetings After Strong Dow Performance

Credit Suisse Group Management Will Not Receive Bonuses

Kamila Szypuła Kamila Szypuła 14.03.2023 10:11
The year 2022 was extremely difficult in many ways. Rising inflation and interest rates, Russia's invasion of Ukraine and other numerous crises. The effects of all this are already visible. For Credit Suisse, it is evident in the losses and the lack of bonuses. In this article: The direction for Volkswagen is electrification and digitalization Meta is ending with NFT? Without Bonuses High inflation and tech sector The direction for Volkswagen is electrification and digitalization The German auto giant earlier this month reported an operating profit for the full year 2022 of €22.5 billion, an increase of 13% over the previous year, with deliveries of batteries and electric vehicles (BEVs) up 26%. BEV's expansion was driven by 68 percent growth in China, while the company also completed the groundbreaking electrification of its plant in Chattanooga, Tennessee. Volkswagen announced plans to invest €180 billion ($192.6 billion) between 2023 and 2027, more than two-thirds of which will go to electrification and digitalization. Arno Antlitz, Chief Financial Officer and Chief Operating Officer of the Volkswagen Group, said the strong financial position should enable the company to continue investing in electrification and digitization even in a "difficult economic environment. Volkswagen announces five-year $193 billion investment plan as electrification gathers pace https://t.co/G4WlC68YeS — CNBC (@CNBC) March 14, 2023 Meta is ending with NFT? The meta introduces significant changes. Some of these changes relate to messengers and others to the NFT market. Meta through Instagram and Facebook ceases to support NFT. There are comments from Meta has jumped on the hype train without actually being involved in the ecosystem and in this current economy they are looking to cut costs. NEWS: Instagram and Facebook winds down support for NFTs as cost cutting and reprioritization measure kicks in at Meta — CoinGecko (@coingecko) March 13, 2023 Without bonuses In February, Credit Suisse Group reported that 2022 was its biggest annual loss since the global financial crisis in 2008. Furthermore, Credit Suisse group management received 32.2 million Swiss francs ($35.27 million) in fixed compensation while waiving bonuses for the first time in over 15 years. Credit Suisse executive board will not receive a bonus for 2022 https://t.co/iyqPeViPCM pic.twitter.com/B7Oy7SlnLM — Reuters Business (@ReutersBiz) March 14, 2023 High inflation and tech sector High inflation in everyday life is felt, but is it also felt in the technological sector? Given that macro factors are increasingly present in TMT discussions, we are launching a series of reports examining the fundamental impact on the sector. UBS believes ISPs face the biggest challenge in the inflation scenario. Furthermore, UBS believes that the Tech segment is best positioned in a higher inflation scenario. Even though a significant part of the operating costs of companies is indexed by inflation. How is inflation affecting the Latin America Technology, Media & Telecom sector? Why do internet service providers face the most challenges, and what’s our take on Large Telcos and Tech? Read the latest update from #UBSResearch to find out more. #shareUBS — UBS (@UBS) March 13, 2023

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